BlackRock Beats Consensus Expectations in Q1 From Investing.com

BlackRock (NYSE:) shares rose more than 2% premarket on the back of recent quarterly results that beat consensus expectations.

The investment firm reported first-quarter EPS of $9.81, $0.47 better than analyst estimates of $9.34. Revenue for the quarter was $4.73 billion, up 11% from the year-ago period and surpassing consensus estimates of $4.64 billion.

BlackRock reported quarterly long-term net inflows of $76 billion and quarterly total net inflows of $57 billion, reflecting the platform’s continued strength, with the company citing “positive flows across asset classes and client types.”

We currently have $10.5 trillion in assets under management, an increase of $1.4 trillion year-over-year, driven by steady organic growth and positive market movements.

“BlackRock’s momentum continues to build, with client activity accelerating and visibility to raise funds for significant wealth, institutions and Aladdin orders,” said Laurence Fink, Chairman and CEO of BlackRock. “More and more clients are turning to BlackRock for insight and advice in a market full of complexity and opportunity. We have significant growth potential in infrastructure, technology, retirement and full portfolio solutions through our robust pipeline of unparalleled breadth. “I’m looking at it. I’ve seen it before.”