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BlackRock (BLK) Q2 revenue jumps 28% – NewsEverything Enterprise

BlackRock, the world’s largest asset supervisor, reported a 28% leap in second-quarter revenue on Wednesday that handily beat estimates as traders poured more cash into the corporate’s funds, boosting its belongings underneath administration to new highs.

The corporate’s adjusted web revenue rose to $1.55 billion, or $10.03 per share, within the three months ended June 30, from $1.21 billion, or $7.85 per share, a yr earlier.

Analysts on common had anticipated a revenue of $9.46 per share, based on IBES knowledge from Refinitiv.

Internet inflows stood at $81 billion, pushed by increased investments in BlackRock’s varied funds, together with its exchange-traded funds.

BlackRock’s bumper quarter noticed its belongings underneath administration develop to a report $9.49 trillion from $7.32 trillion in the identical quarter final yr.

This story is growing. Please test again for updates.

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