Executive Summary
In Q2 2024, BlackRock Inc (0QZZ.L) reported solid financial results characterized by a total revenue of $4.81 billion, which reflects year-over-year (YoY) growth of 7.66%. Despite a quarter-on-quarter (QoQ) decline of 1.92%, the company's robust operating income of $1.8 billion, with a 6.32% increase relative to the previous quarter, illustrates its ability to manage expenses effectively amidst challenging market conditions. Management emphasized a focus on sustainable investments and innovative financial products, aiming to capture growing client demand.
While investment performance and rising interest rates impacted net income, which decreased by 4.96% QoQ to $1.50 billion, the firm maintained a strong earnings per share (EPS) of $10.07, showcasing stability and resilience in its operations. Overall, BlackRock's Q2 results indicate both opportunities for growth and challenges that will require strategic navigation in the coming quarters.
Key Performance Indicators
Revenue
4.81B
QoQ: -1.92% | YoY:7.66%
Gross Profit
3.26B
67.91% margin
QoQ: -16.23% | YoY:50.23%
Operating Income
1.80B
QoQ: 6.32% | YoY:11.46%
Net Income
1.50B
QoQ: -4.96% | YoY:9.44%
EPS
10.07
QoQ: -4.82% | YoY:10.30%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue**: $4.81 Billion (YoY: +7.66%, QoQ: -1.92%)
- **Gross Profit**: $3.26 Billion (YoY: +50.23%, QoQ: -16.23%)
- **Operating Income**: $1.80 Billion (YoY: +11.46%, QoQ: +6.32%)
- **Net Income**: $1.50 Billion (YoY: +9.44%, QoQ: -4.96%)
- **EPS**: $10.07 (YoY: +10.30%, QoQ: -4.82%)