The roundup of quarterly reports from the giants of Wall Street continues. Today is the turn of BlackRock which closed the second quarter of 2019 with a Net income down 7% to $1.003 billion, $6,41 per share (-3%) versus $6,50 per share expected by analysts.
Down also i revenues, dropped 2% to $3,524 billion. Analysts had expected a figure of 3,58 billion. However, the revenues generated by technology services are growing by 20% year on year, since "the company continues to invest in its technology capabilities," said Lawrence Fink, president of Blackrock, recalling that the acquisition of eFront.
THEoperating profit it was down 11% to $1,278 billion, reflecting $61 million in fund launch costs. The operating margin it stood at 36,3%, against 39,9% in the same period last year. In the three months i net flows long-term investments totaled $125,4 billion, bringing the year-to-date total to $184,4 billion.
The world's largest investment firm reported 9% growth in stocks managed assets, equal to 6.842 billion dollars; the i are also on the riseNet capital inflows, which stood at $151 billion.
We recall that a few days ago, Blackrock increased its stake in Finecobank, bringing it to 10,233% from the previous 7,246% becoming the first shareholder of the bank led by Alessandro Foti. The operation was carried out immediately after the announcement by Unicredit relating to the placement of the remaining 18,3% of FinecoBank.
On the Nasdaq the Blackrock title travels positive despite the accounts have disappointed the expectations of analysts: +0,4% to 477,03 dollars.
