BlackRock Reports Q1 EPS Beat, Shares Down 3%
<p><a href='https://financialmodelingprep.com/financial-summary/BLK'>BlackRock, Inc. (NYSE:BLK)</a> shares closed more than 3% lower today, despite the company’s reported strong Q1 EPS beat. </p>
<p>The company's adjusted EPS came in at $9.52, beating the consensus estimate of $8.84. Revenue rose 7% to $4.699 billion, slightly below the consensus estimate of $4.73 billion, driven by strong organic and technology services growth, offset by lower performance fees.</p>
<p>Analysts at Deutsche Bank provided their views on the company following the results, mentioning that the core miss to their estimate was driven mostly by lower performance fees than expected, at $98 million vs. Deutsche Bank’s $149 million estimate along with lower investment advisory fees of $3.833 billion vs. $3.930 billion estimate, partially offset by lower operating expense of $2.935 billion vs. $3.084 billion estimate.</p>
<p>The analysts lowered their price target on the company’s shares to $905 from $950, while reiterating their buy rating.</p>

NYSE:BLK