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Benedicte Gravrand, Opalesque Geneva: - BlackRock, an investment management, risk management and advisory services firm headquartered in New York City, announced its quarterly earnings for the first quarter of 2013 (Q1-13) yesterday.
The firm now manages a record $3.936tln in assets, 7% more than a year ago and 4% more than last quarter .
According to the release, for Q1-13, "net inflows in long-term products totalled $39.4 billion, reflecting positive net new business across all client types. Equity, multi-asset class and core alternatives net inflows of $33.7 billion, $9.0 billion and $1.5 billion, respectively, were slightly offset by fixed income and alternatives currency and commodities net outflows of $2.6 billion and $2.2 billion, respectively."
For Q1-13, diluted EPS (earnings per share) of $3.62 were up 15% from Q1-12. Revenue increased too, by 9% from Q1-12, and by 2% from last quarter. Operating income was $909m with an operating margin of 37%. Furthermore, the 12% quarterly dividend increase of $1.68 per share and repurchases of approximately $250m during Q1 reflected, the release says, "continued commitment to sound capital management."
"Our strong first quarter financial results, with revenue up...................... To view our full article Click here
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