{"id":681,"date":"2023-10-13T15:10:30","date_gmt":"2023-10-13T15:10:30","guid":{"rendered":"https:\/\/connectwithfund.com\/markets\/blackrock-stock-falls-even-after-earnings-beat-expectations\/"},"modified":"2023-10-13T15:10:30","modified_gmt":"2023-10-13T15:10:30","slug":"blackrock-stock-falls-even-after-earnings-beat-expectations","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=681","title":{"rendered":"BlackRock Stock Falls Even After Earnings Beat Expectations"},"content":{"rendered":"
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<\/p>\n<\/figure><\/div>\n

\n BlackRock
\n posted earnings that beat expectations on Friday. Shares still declined.<\/p>\n

The world\u2019s largest money manager (ticker: BLK) posted third-quarter earnings per share of $10.91, up from $9.55 a year earlier and better than the $8.34 expected by Wall Street analysts. Operating income increased 7% from a year earlier, the company said.\u00a0<\/p>\n

\n

The stock fell 1.6% to $625.99 in premarket trading. It\u2019s down 12% since Jan. 1.<\/p>\n

BlackRock is guiding customers through a rapidly changing environment for investors. The Federal Reserve has aggressively increased interest rates over the past year and a half. The stock market is more or less flat this year, while bond yields have been rising sharply.<\/p>\n

The firm recorded $3 billion of quarterly net inflows. Net outflows were $49 billion, stemming from lower-fee index equity strategies and $19 billion from a single international client, the company said. Assets under management rose by $1.1 trillion from a year earlier.<\/p>\n

\u201cWhen investors were ready to put money back to work, they came to BlackRock, leading to record flows and share gains,\u201d said CEO Larry Fink in a statement. \u201cWe remain intensely focused on staying in front of our clients, positioning for a resurgence in allocation activity as rates stabilize, and laying the foundation for future growth.\u201d<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock posted earnings that beat expectations on Friday. Shares still declined. The world\u2019s largest money manager (ticker: BLK) posted third-quarter earnings per share of $10.91, up from $9.55 a year earlier and better than the $8.34 expected by Wall Street analysts. Operating income increased 7% from a year earlier, the company said.\u00a0 The stock fell 1.6% to $625.99 in premarket trading. It\u2019s down 12% since Jan. 1. BlackRock is guiding customers through a rapidly changing environment for investors. The Federal Reserve has aggressively increased interest rates over the past year and a half. The stock market is more or less<\/p>\n","protected":false},"author":1,"featured_media":682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"\nBlackRock Stock Falls Even After Earnings Beat Expectations | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"BlackRock posted earnings that beat expectations on Friday. Shares still declined. 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