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BlackRock Reports Second Quarter 2020 Diluted EPS of $7.85

BlackRock |Jul 17, 2020

BlackRock Reports Second Quarter 2020 Diluted EPS of $7.85

  • $100 billion of quarterly total net inflows, driven by fixed income and continued momentum in cash management
  • 6% annualized organic asset growth in the quarter and higher organic base fee growth reflect strength of diversified investment management platform, especially in active capabilities and strategic focus areas of iShares®
  • 4% increase in revenue year-over-year reflects higher performance fees and 17% growth in technology services revenue, driven by continued Aladdin® momentum
  • 10% increase in operating income year-over-year also reflects lower G&A expense, including the impact of $59 million of product launch costs in the prior year quarter
  • 22% increase in diluted EPS reflects higher year-over-year nonoperating income, a lower effective tax rate and a lower diluted share count in the current quarter
  • $1.1 billion of shares repurchases in the quarter as part of PNC’s successful sale of its entire 22% ownership position

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