Blackrock Earnings Continue To Build With Assets and ETFs Under Management

Blackrock report  third quarter earnings before the bell Wednesday. $BLK income from it’s ETF and investment management income continues to soar with over $9 trillion in total assets under management. They report ahead of  Goldman Sachs $GS,  Wells Fargo $WFC and after JPMorgan $JPM.

Blackrock report  third quarter earnings before the bell Wednesday. $BLK income from it’s ETF and investment management income continues to soar with over $9 trillion in total assets under management. They report ahead of  Goldman Sachs $GS,  Wells Fargo $WFC and after JPMorgan $JPM.

Blackrock

Blackrock NYSE: BLK · Report Before Open Wednesday

$9.57 EPS Expected and $4.80 billion Revenue Forecast

EarningsPreview

  • Q3 2021 earnings release: before the opening bell; conference call: 8:30 a.m.

BlackRock on  Wednesay report Q3 earnings with projected EPS of  $9.57 on projected revenue of $4.8 billion. Stockmarket volatilty has been increasing and near record highs net flows into long-term investment products including ETFs and cash fuels their massive book. BlackRock’s assets under management rose to a record $9 trillion in the first quarter, compared with $6.47 trillion a year earlier. Fixed income accounted for a bulk of the inflows, as expectations of policy tightening by the Federal Reserve triggered large moves in debt markets and pushed up U.S. Treasury yields. 

Revenue from investment advisory and administration fees make up most of BlackRock’s earnings.  Its iShares platform is the leading domestic and global provider of exchange-traded funds generating solid organic growth.

 Big Banks Kick Off Third Quarter 2021 Earnings Season

The bank rally has been fueled by expectations for the economy reopening and infrastructure spending.  The new surge in home prices has also buoyed optimism for the mortgage business and banks profits thereto.

Blackrock NYSE: BLK

Market Reaction:

 

PNC Exit Stake in Blackrock

In the second quarter of 2020 PNC sold their passive equity stake in BlackRock. In November they announced thier plan to redeploy those proceeds to acquire BBVA USA. PNC in November said it would acquire the U.S. banking operations of Spain’s BBVA for $11.6 billion cash, making it the biggest regional bank by assets under management in the U.S. The transaction is expected to close in mid-2021 and will increase PNC’s total assets by an estimated $102 billion, creating the fifth largest bank by assets.

Source: PNC Earnings Release 

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