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BlackRock reports 24% YOY growth in Q4'19 AUM

BlackRock Inc. reported fourth-quarter 2019 adjusted net income attributable to the company of $1.31 billion, or $8.34 per share, compared to $975 million, or $6.08 per share, in the year-ago quarter.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $7.68.

Net income attributable to the company was $1.30 billion, or $8.29 per share, up from $927 million, or $5.78 per share, in the prior-year quarter.

The company reported total revenues of $3.98 billion, up 16% from $3.43 billion in the same period last year. Investment advisory, administration fees and securities lending revenue increased year over year to $3.09 billion from $2.78 billion. Investment advisory performance fees also grew year over year to $239 million from $100 million. Technology services revenue grew year over year to $274 million from $203 million. Distribution fees were $270 million in the most recent quarter, compared to $271 million in the year-ago quarter.

Total expenses increased to $2.44 billion from $2.19 billion.

BlackRock reported total assets under management of $7.430 trillion as of Dec. 31, 2019, compared to $6.964 trillion as of Sept. 30, 2019, and $5.976 trillion as of Dec. 31, 2018.

Total net inflows for the most recent quarter were $128.84 billion, compared with inflows of $49.77 billion in the fourth quarter of 2018.

For full year 2019, adjusted net income attributable to the company was $4.48 billion, or $28.48 per share, compared to $4.36 billion, or $26.93 per share, in 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for 2019 was $27.85.