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BlackRock is one of my favorite stocks in my portfolio. I believe that they are the most important company in the world. They own the ishares ETFs which represents a huge part of most people's 401ks. They are the largest asset manager in existence. This stock has performed very well for me, and I am definitely planning to buy more shares of the company.
BlackRock recently released their quarterly report for the second quarter of 2023. In this report, they revealed that they earned $9.28 per share which is much higher than the $8.46 a share they were expected to bring in. This surprise in profit comes from their private equity investments doing better than expected. They did underperform in inflows into their funds though. They brought in $80 billion in inflows in the second quarter of 2023. While $80 billion is a lot of money, it is far less than the $100 billion many analysts were expecting them to bring in. While I would have liked them to have brought in more money, I am not very concerned that they underperformed here. There's a lot of economic uncertainty at the moment, and it makes sense to me that inflows would have been slightly down. The $80 billion they brought in brought their total assets under management to $9.4 trillion. Overall, I am pretty happy with this report. They're not expecting much growth this year which I hope will allow me to accumulate more shares before they get expensive. Join The CWT Money Club to get access to all my writings on budgeting, personal finance, and money management. Join at www.patreon.com/financebycwt I made a list of the financial tools that I use. Check it out here - Investing Apps - Finance by CWT - FINANCE BY CWT and see if one will help you! Follow Finance by CWT down below!
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