BlackRock (NYSE:BLK) shares are trending marginally lower today after the investment giant delivered better-than-expected second-quarter numbers.
During the quarter, revenue declined 1% year-over-year to $4.46 billion, managing to land past estimates by $10 million. EPS at $9.28, on the other hand, comfortably outperformed expectations by $0.76. During Q2, net inflows stood at $80 billion with assets under management (AUM) rising to $9.425 trillion.
The decrease in the topline though was attributable to an impact on average AUM from market gyrations over the past year. Average AUM during Q2 stood at $9.187 trillion.
Overall, the Street has a $772.40 consensus price target on BlackRock alongside a Moderate Buy consensus rating. Shares of the company have climbed nearly 24% over the past year.
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