BlackRock (NYSE: BLK ) reported earnings Wednesday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), BlackRock missed slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped.
Gross margins improved, operating margins grew, and net margins dropped.
BlackRock booked revenue of $2.23 billion. The 11 analysts polled by S&P Capital IQ foresaw a top line of $2.27 billion on the same basis. GAAP reported sales were 5.0% lower than the prior-year quarter's $2.35 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $3.10. The 17 earnings estimates compiled by S&P Capital IQ predicted $3.02 per share. GAAP EPS of $3.08 for Q2 were 4.0% lower than the prior-year quarter's $3.21 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.5%, 30 basis points better than the prior-year quarter. Operating margin was 37.2%, 30 basis points better than the prior-year quarter. Net margin was 24.9%, 150 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.27 billion. On the bottom line, the average EPS estimate is $3.27.
Next year's average estimate for revenue is $9.22 billion. The average EPS estimate is $13.12.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 432 members rating the stock outperform and 49 members rating it underperform. Among 104 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 92 give BlackRock a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on BlackRock is outperform, with an average price target of $206.94.
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