BlackRock Inc
0QZZ.L
$1 163.97 1.13%
Exchange: LSE | Sector: Financial Services | Industry: Financial Diversified
Q2 2024
Published: Aug 6, 2024

Earnings Highlights

  • Revenue of $4.81B up 7.7% year-over-year
  • EPS of $9.99 increased by 10.3% from previous year
  • Gross margin of 67.9%
  • Net income of 1.50B
  • ""Our commitment to technology and innovation will ensure we stay ahead of our competitors in delivering value to our clients."" - Larry Fink

BlackRock Inc (0QZZ.L) Q2 2024 Financial Results: Resilience Despite Market Challenges

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%)

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 5,423.00 10.19 +12.9% View
Q1 2025 5,276.00 9.64 +7.7% View
Q4 2024 5,677.00 10.64 +16.0% View
Q3 2024 5,374.00 10.90 +18.8% View
Q2 2024 4,805.00 9.99 +7.7% View