BlackRock Q1 Earnings Top Views

reported stronger-than-expected earnings for the first quarter. The New York City-based company posted quarterly net income of $822 million, or $4.84 per share, compared to $756 million, or $4.40 per share, in the year-ago period. On an adjusted basis, the company posted earnings of $4.89 per share. Its revenue climbed 2.0 percent y/y to $2.72 billion. However, analysts were expecting earnings of $4.52 per share on revenue of $2.79 billion. Assets under management rose to $4.77 trillion at the end of the quarter, versus $4.4 trillion a year earlier. Cash management AUM slipped 1 percent versus December 31, 2014 to $292.5 billion, while advisory AUM dropped 17 percent compared to December 31, 2014 to $18.1 billion. Long-term net inflows totaled $70.4 billion, while retail long-term net inflows were $14.2 billion. The average estimate among 29 Estimize users was for earnings of $4.63 per share and revenue of $2.82 billion. BlackRock shares rose 0.80 percent to close at $376.66 yesterday.