16/04/2018at 13:29

Blackrock powers past top Q1 analyst forecasts

The world's largest asset manager, US-based Blackrock, made more money in the first quarter of 2018 than even the most bullish analysts had expected.

BY RITZAU FINANS

Earnings per share at US asset management giant Blackrock were USD 6.70 in the first quarter of 2018 a result which exceeds average analyst expectations of USD 6.38, according to estimates gathered by Bloomberg News. The estimates ranged from USD 6.22 and 6.55.

The company's total income for the quarter was USD 3.58 billion compared to the expected USD 3.42 billion. Analysts' forecasts for this figure were between USD 3.15 billion and USD 3.58 billion.

At the end of the quarter, the company had USD 6.320 trillion in assets under management.

English edit: Daniel Frank Christensen.

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Head of Wealth Management at DNB, Håkon Hansen, says that the competition in the fund market is tough. | Photo: PR / DNB

Fund Management

DNB AM sits on by far largest share of Norway's fund market

Banks are taking market shares in the Norwegian investment fund market, and none are bigger than DNB, crushing competitors in 2023 so far.

For subscribers

An iceberg melts in Kulusuk, Greenland, near the arctic circle. | Foto: John Mcconnico/AP/Ritzau Scanpix

AMNews

The Arctic will have ice-free summers as soon as the 2030s

For subscribers

James Dow, investment manager at Baillie Gifford. | Foto: PR Baillie Gifford.

AMWatch

Steady compounders don't often look so sexy, says Scottish asset manager

For subscribers

From left: Senior portfolio managers at Alfred Bergs Nordic high-yield fund, Anna-Karin Hempel, Maria Granlund, and Henrik Emil Høyerholt. | Foto: PR/Alfred Berg

AMWatch

Nordic high-yield fund managers surprised by own outperformance

For subscribers

Jacob Wallenberg calls for pension fund investments in Swedish infrastructure. | Foto: Yoko Miwa/AP/Ritzau Scanpix

AMNews

Swedish industrialist calls for more pension capital in infrastructure

For subscribers

Swede Mårten Vading is the co-founder of Kreos Capital. | Foto: Kreos Capital

AMNews

New acquisition to strengthen BlackRock's private market offering

For subscribers

Steady compounders don't often look so sexy, says Scottish asset manager

Every company looking for an investor has a story to tell, but only a small percentage of these stories have the potential to become reality, says Baillie Gifford’s investment manager, James Dow.

For subscribers

Fund Management

DNB AM sits on by far largest share of Norway's fund market

Banks are taking market shares in the Norwegian investment fund market, and none are bigger than DNB, crushing competitors in 2023 so far.

For subscribers

Christoph Junge, Head of Alternatives at Velliv, Pension & Livsforsikring A/S, writes columns for AMWatch on a quarterly basis. | Foto: Pr / Velliv

Fund Management

Column: Alternative Investments during Q1 2023 − dispersion is the name of the game

In this column, Velliv’s head of Alternatives Christoph Junge takes a closer look at the returns from the alternative asset classes in the first quarter of 2023.