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


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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