Wednesday , August 10 2022

BLACKROCK: Profits do not meet expectations


BlackRock reported lower performance than expected in the second quarter due to the performance and disappointing earnings on securities lending. During this period, the world's leading asset manager saw his net profit drop by 7 percent to $ 1 billion, or $ 6.41 per share. The latter compares with the $ 6.50 Refinitive consensus. At the same time, its turnover fell by 2 percent to 3.52 billion dollars, where the market stood at 3.57 billion dollars.

The asset manager's operating profit declined 11% to $ 1.28 billion, allowing it to operate 36.3%, down 3.6 points from the same period last year.

BlackRock's assets, which are managed, have risen 9% to 6.842 billion dollars. He recorded a collection of $ 151 billion for $ 20 billion a year earlier.

In particular, its iShares (ETF) index platform raised 36.07 billion dollars in new cash and $ 2.008 billion in assets under management. iShares represents 29% of the managed assets.

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