As a seasoned financial analyst with extensive experience in tracking and analyzing the performance of large asset management firms, I find BlackRock’s (BLK) latest quarterly report to be quite impressive. With assets under management (AUM) surpassing the $10 trillion mark, it is clear that the company is continuing to grow at an impressive rate.
BlackRock, the globe’s leading asset manager with over $10 trillion in assets, reported an increase during the second quarter.
The company’s market value surged by approximately 13% year-over-year to reach $10.6 trillion, according to a statement released by AUM. Meanwhile, earnings per share (EPS) grew from $9.06 to $9.99. The revenue figure came in at $4.8 billion, representing a 7.7% increase compared to the previous year.
BlackRock, as the largest public investor in bitcoin, owns over 300,000 units of the iShares Bitcoin Trust exchange-traded fund (ETF). This trust represents the cryptocurrency directly.
BLK shares rose 1.2% to $838 in pre-market trading.
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2024-07-15 14:02