BlackRock (NYSE:BLK) slipped after quarterly results.
Long-term quarterly net inflows were $80 Billion, with positive flows across client types and regions, vs. $103B in the previous quarter. ETFs flows were $48 Billion, rising from $22 Billion in the previous quarter.
Q2 adjusted EPS were $9.28, topping the $8.42 consensus, climbed from $7.93 in Q1 2023 and from $7.36 in Q2 2022.
Moreover, BlackRock repurchased $375 million of its shares in Q2.
Revenue of $4.46 Billion, beating the $4.45-Billion consensus, rose from $4.24 Billion in the prior quarter and declining from $4.53 Billion in the year-ago period.
Total investment advisory, administration fees and securities lending revenue of $3.61B rose from $3.33B in the prior quarter and declined from $3.69B in the year-ago period.
Technology services revenue of $359 million rose from $340 million in Q1 and from $332 million in Q2 2022.
Assets under management increased to $9.43 Trillion from $9.09 Trillion.
Q2 total expense of $2.85 Billion compared with $2.81 Billion in Q1 and $2.86 Billion in Q2 2022.
More than that, BlackRock announced five new model portfolios constructed using exchange traded funds to Canada to further support Canadian advisors. The iShares Strategic Allocation ETF Models provide access to highly diversified portfolios of global stocks and bonds at low cost, leveraging the breadth of iShares ETFs.
BLK shares declined $8.92, or 1.2%, to $730.88.