BlackRock Reports Second Quarter 2020 Earnings
BlackRock, Inc. today released its financial results for the second quarter of 2020.
avatar
Staff or Guest writer for The Dog of Wall Street.
2020-07-17 14:58

Here the highlights:

  • $100 billion of quarterly total net inflows, driven by fixed income and continued momentum in cash management
  • 6% annualized organic asset growth in the quarter and higher organic base fee growth reflect strength of diversified investment management platform, especially in active capabilities and strategic focus areas of iShares®
  • 4% increase in revenue year-over-year reflects higher performance fees and 17% growth in technology services revenue, driven by continued Aladdin® momentum
  • 10% increase in operating income year-over-year also reflects lower G&A expense, including the impact of $59 million of product launch costs in the prior year quarter
  • 22% increase in diluted EPS reflects higher year-over-year nonoperating income, a lower effective tax rate and a lower diluted share count in the current quarter
  • $1.1 billion of shares repurchases in the quarter as part of PNC’s successful sale of its entire 22% ownership position

BlackRock Reports Second Quarter 2020 Earnings

Laurence D. Fink, Chairman and CEO, said the following:

“Our steadfast focus is on serving all of our stakeholders through this crisis. I am honored by the trust that clients, governments and communities have placed in us, which we approach with a deep sense of responsibility. I am also incredibly proud of our employees, who have come together, even while working remotely, to partner with clients, uphold our One BlackRock culture and live our purpose."

BlackRock's stock has been a good performer during the Covid-19 pandemic, stock is up 12% YTD.


Disclaimer: Writer has no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Rate this article

positive
negative
Published On
2020-07-17 14:58

avatar
About the Author
Staff or Guest writer for The Dog of Wall Street.


buy-coffee
You've read 1 article in the last year
..thank you for supporting us and for visiting our site. Unlike many other sites, The Dog of Wall Street is available for everyone to read. Our focus is to provide great content for free. Do you like what we are doing? Buy us a cup coffee. It is the fuel that keeps us going..

Looking Ahead to Tesla's Earnings: What Can We Expect?
Is there any stock that has been more talked about than Tesla (NASDAQ: TSLA) as of late? It’s a company that is always in the spotlight but the stock is under some heavy scrutiny this year and deservedly so.
By Mike Sakuraba | 1 month ago

2 Stocks to Load Up On During This Correction
Another volatile week for markets and investors are starting to feel a little uncomfortable.
By Mike Sakuraba | 1 month ago

2 Earnings to Watch for Next Week
This article is merely meant to talk about two companies that I’ll have my eyes on for earnings.
By Mike Sakuraba | 1 month ago

2 Stocks That Could Explode in Q2
Here are two stocks that I think could explode in the second quarter.
By Mike Sakuraba | 1 month ago

2 Trillion Dollar Companies in the Making
One thing for certain about these two companies is that I see the potential in how they can grow.
By Mike Sakuraba | 1 month ago

Is Tesla Back? Has TSLA Stock Finally Bottomed?
Tesla Stock Analysis: Robo Taxis to the Rescue?
By Mike Sakuraba | 1 month ago

2 Stocks to Buy During an April Pullback
Here are 2 stocks I’d buy during an April pullback.
By Mike Sakuraba | 1 month ago

TSM Stock: Is This The True Winner of the AI Race?
TSM’s stock has gained nearly 40% this year which is about half of NVIDIA has returned.
By Mike Sakuraba | 1 month ago