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.