New York, April 15, 2021 - BlackRock, Inc. (NYSE: BLK) today reported financial results for the three months ended March 31, 2021.
-
$172 billion of quarterly total net inflows, or 8% annualized organic asset growth, driven by continued momentum across the platform, with positive flows across all regions, investment styles and product types
-
Significantly higher annualized organic base fee growth in the quarter reflects strength of active capabilities across all product types
-
19% increase in revenue year-over-year reflects strong organic growth, higher performance fees and 12% growth in technology services revenue
-
Year-over-year increases in GAAP operating income (126%) and diluted EPS (51%) impacted by charitable contribution in the first quarter of 2020, which was excluded from as adjusted results
-
21% increase in as adjusted operating income year-over-year includes the impact of $178 million of fund launch costs in the current quarter
-
18% increase in as adjusted diluted EPS year-over-year also reflects lower nonoperating income and a higher effective tax rate, partially offset by a lower diluted share count, in the current quarter
-
Consistent capital management supported by $300 million of share repurchases in the current quarter and 14% increase in quarterly cash dividend to $4.13 per share
See the full release