Have you been eager to see how BlackRock, Inc. (BLK) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based investment management company’s earnings release this morning:
An Earnings Beat
BlackRock came out with adjusted earnings per share of $4.89, beating the Zacks Consensus Estimate of $4.51.
Growth in revenues was primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BlackRock depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved nearly 1% lower over the last 7 days.
However, BlackRock has a decent earnings surprise history. Before posting an earnings beat in Q1, the company delivered positive surprises in the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 8.06% in the trailing four quarters.
Revenue Came In Lower Than Expected
BlackRock posted revenues of $2.72 billion, which missed the Zacks Consensus Estimate of $2.78 billion. However, it came 2% above with the year-ago figure.
Key Statistics:
· $70.4 billion of long-term net inflows
· 8% AUM growth from the first quarter of 2014
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BlackRock. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this BlackRock earnings report!
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