BlackRock (BLK) Misses Q4 EPS by 40c

BlackRock (NYSE: BLK) reported Q4 EPS of $6.08, $0.40 worse than the analyst estimate of $6.48. Revenue for the quarter came in at $3.43 billion versus the consensus estimate of $3.57 billion.

Laurence D. Fink, Chairman and CEO:

“BlackRock’s scale and strategic positioning allowed us to deliver organic growth, revenue growth, and operating leverage in 2018, while simultaneously investing in our highest growth opportunities and returning $3.6 billion in capital to shareholders. The benefits of the investments we have made to build the most diversified global asset management and technology services firm in the world are clearer today than at any point in our history.

“BlackRock generated total net inflows of $124 billion in 2018. This included $50 billion of fourth quarter net inflows and record quarters for iShares and illiquid alternative strategies. Technology services revenue grew 19% in 2018, driven by strong demand for Aladdin and our digital wealth technologies. Our results reflect continued growth in these key initiatives and the resilience of our platform.

“BlackRock is well positioned to deliver the holistic portfolio solutions, technology services and strategic counsel that clients increasingly are seeking, especially in the face of meaningful headwinds for the asset management industry. We will continue to invest in our platform to ensure BlackRock is even better positioned to serve clients and consistently deliver long-term value to shareholders in the years ahead.”

For earnings history and earnings-related data on BlackRock (BLK) click here.

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