Blackrock - Large becoming larger?

The world's biggest asset manager showed that earnings can continue to grow even in uncertain climates.

So what are the key takeaways from BlackRock's latest quarterly results?

Operating income is down marginally, from USD 1.7 billion to USD 1.68 billion. Operating margin-wise, it is a 120 bps drop.

Q2'23 margins have bucked the trend of successive lower operating margins.

Net income wise, Q2'23 registered a net income of USD 1.4 billion, up from USD 1.122 billion YoY.

Earnings per share is at USD 9.28 per share.

Asset Under Management (AUM) for Blackrock continued to grow - it is currently a USD 9.4 trillion asset company!

However, its revenue for Q2'23 suffered a slight dip, primarily driven by the impact of market movements over the based 12 months on average AUM.

Blackrock continues to do share buybacks and dividends. Its weighted average diluted shares have been dropping, which contributes to better earnings per share.

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