BlackRock misses by $0.05, misses on revs :
- Reports Q1 (Mar) earnings of $4.25 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus of $4.30; revenues fell 3.6% year/year to $2.62 bln vs the $2.74 bln Capital IQ Consensus.
- Diluted EPS decrease of 19% (13% as adjusted) year-over-year, reflects impact of decline in average AUM and lower performance fees in current quarter, and lower effective tax rate and one-time nonoperating gain in prior year quarter.
- Long-term net inflows were positive across all regions, with net inflows of $21.1 billion, $11.5 billion and $3.5 billion from clients in the Americas, EMEA and Asia-Pacific, respectively. At March 31, 2016, BlackRock managed 62% of its long-term AUM for investors in the Americas and 38% for clients in EMEA and Asia-Pacific.
- "Strong organic asset growth and positive mix shift largely offset equity market headwinds, as a 1% year-over-year decline in base fees outpaced a 9% average fall in the MSCI World Index over the same period."
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