BLK
BlackRock Inc
Q4 2024 Report
BlackRock Inc (BLK) Q4 2024 Financial Results: Impressive Growth Amid Strategic Transitions...
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Executive Summary
BlackRock Inc demonstrated a strong performance in Q1 2024, achieving record assets under management (AUM) of nearly $10.5 trillion, reflecting a year-over-year increase of 15%. The firm reported revenues of $4.9 billion, representing an increase of 11% compared to the previous year, buoyed by favorable market conditions, enhanced investor sentiment, and ongoing inflows into its investment products. BlackRock's ability to generate $76 billion in long-term net inflows highlights its robust market position and client confidence, despite facing seasonal outflows from institutional money market funds. Management remains optimistic about the growth trajectory for the rest of 2024, with a strong pipeline of investment opportunities across various sectors. Comprehensive cost control measures and strategic acquisitions further solidify its competitive edge in the asset management sector.
Key Performance Indicators
Revenue
4.90B
QoQ: 0.06% | YoY:15.46%
Gross Profit
4.01B
81.87% margin
QoQ: -1.59% | YoY:100.95%
Operating Income
1.86B
QoQ: -2.62% | YoY:29.28%
Net Income
1.57B
QoQ: 14.40% | YoY:35.96%
EPS
10.58
QoQ: 14.38% | YoY:37.05%
Revenue Trend
Margin Analysis
Key Insights
1. Revenue: $4.899 billion (YoY: 11%, QoQ: 0.06%) 2. Net Income: $1.573 billion (YoY: 35.96%, QoQ: 14.40%) 3. Earnings Per Share (EPS): $10.58 (YoY: 37.05%, QoQ: 14.38%) 4. Operating Margin: 42.2%, improved by 180 basis points from Q1 2023 5. Long-term Net Inflows: $76 billion, with total annualized organic base fee growth of 1%. Management emphasized the sustained momentum and accelerated pipeline across all product categories, particularly in private markets and technology. CEO Laurence F...