Shares in BlackRock (NYSE:BLK) rose slightly in premarket trading Monday after the asset management giant reported results for the fiscal Q2 2024.
Earnings per share (EPS) were reported at $10.36, topping the consensus estimates of $9.95. Revenue missed expectations, coming in at $4.81 billion compared to the estimated $4.85 billion, though it increased 8% year-over-year.
BLK climbed 1% in the premarket.
Assets under management reached $10.65 trillion, a 13% year-over-year increase, also slightly below the projected $10.73 trillion.
Net inflows were $81.57 billion, a 1.8% year-over-year increase, below the estimate of $101.24 billion.
Adjusted operating margin stood at 44.1%, compared to 42.5% year-over-year, and surpassing the estimate of 42.7%.
Equity net inflows were $6.44 billion, significantly below the estimated $31.85 billion.
BlackRock’s Chairman and CEO Laurence D. Fink, President Robert S. Kapito, and CFO Martin S. Small will host a teleconference call for investors and analysts at 7:30 a.m. ET.