• Mon. May 20th, 2024

BlackRock reports first-quarter earnings of $10.5 trillion and continues its upward trajectory in the financial world

BySamantha Jones

Apr 13, 2024
Assets Under Management Reach All-Time High of $10.5 Trillion

BlackRock CEO Larry Fink reported the company’s first-quarter earnings on Friday, highlighting its growth and success. Assets under management increased by 15% over the past year, reaching a record $10.5 trillion. This growth was attributed to significant net inflows of client cash as well as a strong performance in the market.

During the first quarter, BlackRock saw a surge in assets under management to a record high of $10.5 trillion. The boost in AUM was due to large net inflows of client funds and a favorable market environment. Additionally, the company’s revenue showed significant growth, increasing by 11% to $4.7 billion, which helped boost its operating income by 18% to $1.7 billion. Management even completed a buyback of $375 million worth of stock and raised the quarterly dividend to $5.10 a share.

CEO Larry Fink expressed optimism about BlackRock’s momentum, emphasizing the strong organic asset growth and base fee growth seen towards the end of the quarter. The company reported $76 billion in net inflows during the first quarter, representing a significant portion of full-year 2023 levels. With market sentiment remaining positive and stocks and other assets reaching record highs, BlackRock’s success is expected to continue in the future.

BlackRock’s first-quarter earnings report highlighted its impressive financial performance and continued growth potential in an ever-changing market environment.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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