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Egyptian News Latest news / revenues and revenues of Black Rock fall below expectations in the second quarter



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Black Rock earnings fell in the second quarter of this year to fail to meet analysts' expectations.

The company reported a net profit of $ 1.003 billion ($ 6.41 per share) for the three month period ending June 30, compared to $ 1.073 billion ($ 6.62 per share) in the same quarter last year. past.

Analysts expected earnings per share to be $ 6.50 in the second quarter of this year.

On the other hand, revenue fell by about 2% in the fourth quarter of last June to 3.524 billion dollars from 3.605 billion dollars in the second quarter of last year.

BlackRock's earnings are below analyst expectations of $ 3.58 billion in the second quarter.

The company blames unfavorable market winds, lower basic charges and declining lending revenues.

According to the results, the company reported total cash inflows of about $ 150.98 billion. In the second quarter of 2019, an increase of 9% on an annual basis.

Meanwhile, the company's overall costs, based in New York, rose 4% yoy to $ 2.25bn.

In the three months to June, the total assets under management were $ 6.84 trillion, which is higher than $ 6.30 trillion recorded for the same period in 2018.
Date: 2019-07-19

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