Blackrock profit beats estimates as assets top record $7 trillion

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Blackrock profit beats estimates as assets top record $7 trillion

On Wednesday, the 15th of January 2020, BlackRock Inc., the New York City-based world’s largest asset manager's quarterly earnings on Q4, 2019, had beaten an analysts' estimate by a wider margin, while a free flow of funds at its exchange-traded business had reportedly boosted its overall assets under management to an all-time record high of $7.43 trillion on an annualized basis.

Besides, following reveal of its fourth quarterly earnings’ report for 2019 on Wednesday (January 15th), shares’ prices of BlackRock Inc., the world’s largest investment management corporation that founded back in the 1988s and had $6.96 trillion worth of asset under its management as of September 30th, 2019, ended the day 2.17 per cent higher to $530.26 after surging as much as 2.35 per cent in the pre-market trading.

Apart from that, according to BlackRock Inc.’s Wednesday’s (January 15th) earnings’ report, the NY-based company had posted a net earning of $1.30 billion or $8.29 per share over the quarter that ended on December 31st, 2019, roughly 43.4 per cent higher compared to a figure of $5.78 per share on a year-on-year basis, beating an analysts’ estimate of $7.69 per share, IBES data from Refinitiv had revealed.

Meanwhile, expressing an out-and-out optimism over BlackRock’s Q4, 2019 earnings’ report, BlackRock Inc. Chief Executive, Larry Fink said in a post-earnings’ call with a press agency reporter earlier on Wednesday (January 15th), “I think it’s quite evident from our flows in the fourth quarter that we are winning more of our clients’ share of wallet. ”