BlackRock releases its first quarter earnings on Tuesday. Analysts expect $3.34 billion in revenue.
In the fourth quarter, the firm’s assets under management dipped to $5.98 trillion. It’s still the world’s largest asset manager, and assets are predicted to tick back up, to $6.31 trillion.
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BlackRock should bounce back from fourth quarter market volatility when it reports earnings on Tuesday, according to analysts.
The firm’s assets declined in the fourth quarter, to $5.98 trillion, but analysts expect that number to pick back up, to $6.22 trillion – $6.5 trillion, according to Bloomberg data.
See more: Here are the 3 ways Larry Fink is positioning BlackRock to outperform after a ‘challenging’ year
Overall, analysts are expecting a stronger earnings season for the asset management industry than the fourth quarter, when managers suffered from market volatility and saw clients pull billions. In an analyst note last week, Jefferies’ asset management researchers noted the S&P 500 was down 13.5% in the fourth quarter but up 13.65% in the first quarter. The more positive market led them to increase most of their earnings per share estimates for asset managers.
The Jefferies analysts expect positive capital flows …read more
Source:: Businessinsider – Finance