Benedicte Gravrand, Opalesque Geneva:
BlackRock, Inc., the large investment management, risk management and advisory services firm headquartered in New York City, announced its quarterly earnings for the second quarter of 2013 (Q2-13) yesterday.
Diluted EPS was $4.19, up 36% from a year ago; revenue increased 11% from Q2-12; operating income was up 2% from 2012, at $849m; and net income of $729m increased by 32% since last year ($554m).
The firm now has $3.857tln in assets, an increase of 8% over Q2-12, and a decrease of 2% since last quarter (it managed a record $3.936tln in assets in Q1-13).
During the quarter, BlackRock also repurchased $250m of shares and funded a new charitable foundation to focus on communities where the firm operates.
"Our second quarter results, which reflect adjusted operating income up 18% year-over-year, once again highlight the
strength of our globally diversified multi-client platform that was built to deliver in all market environments," commented
Laurence D. Fink, Chairman and CEO of BlackRock.
"During the quarter we generated record base fees and $11.9 billion in
long-dated net new business across a broad range of products, in......................
To view our full article Click here