{"id":1972814,"date":"2023-07-14T07:36:02","date_gmt":"2023-07-14T11:36:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-quarterly-profit-rises-as-more-investors-flock-to-its-funds\/"},"modified":"2023-07-14T07:37:29","modified_gmt":"2023-07-14T11:37:29","slug":"blackrock-quarterly-profit-rises-as-more-investors-flock-to-its-funds","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-quarterly-profit-rises-as-more-investors-flock-to-its-funds\/","title":{"rendered":"BlackRock&#8217;s profit surges as investors flock to its funds."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fblackrock-quarterly-profit-rises-as-more-investors-flock-to-its-funds%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1972814&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>BlackRock Inc<\/strong>, the world\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/vivek-ramaswamy-blackrocks-woke-green-agenda-is-all-about-blackrocks-bottom-line-not-its-portfolio-companies\/\" title=\"Vivek Ramaswamy: BlackRock\u2019s Woke Green Agenda Is All About BlackRock\u2019s Bottom-line, Not Its Portfolio Companies\u2019\">largest asset manager<\/a>, posted a 25% rise in its second-quarter adjusted profit on Friday, benefiting from investors pouring money into its various market funds.<\/p>\n<p>On an adjusted basis, BlackRock earned $1.4 billion, or $9.28 per share, for the three months ended June 30, compared with $1.1 billion, or $7.36 per share, a year earlier.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The New York-based firm ended the second quarter with $9.4 trillion in assets under management (AUM), up from $8.5 trillion a year earlier and higher than $9.1 trillion in the first quarter this year.<\/p>\n<p>Markets have staged a comeback so far this year, braving the Federal Reserve\u2019s rate hikes and a banking crisis that have raised risks of an economic downturn later in 2023.<\/p>\n<p>Revenue at BlackRock fell 1.4% to $4.4 billion from a year earlier, driven by the impact of market movements over the past 12 months on average AUM, it said. <\/p>\n<p>Investors will be keeping a close eye on BlackRock\u2019s quarterly earnings to better gauge the health of the financial sector and take their positions accordingly.<\/p>\n<p>Net inflows for the quarter for BlackRock were at $80 billion, down from $89.6 billion a year ago.<\/p>\n<p>BlackRock last month laid off employees impacting less than 1% of its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-quarterly-profit-rises-as-more-investors-flock-to-its-funds\/\" title=\"BlackRock's profit surges as investors flock to its funds.\">total workforce due<\/a> to budget reallocations to support critical priorities. It had cut 500 jobs earlier in the year as well.<\/p>\n<p>BlackRock has been attempting to enter into the crypto space as it seeks the Securities and Exchange Commission\u2019s permission to list an exchange-traded fund that will reflect the price of bitcoin.    <\/p>\n<p> (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju Samuel)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/blackrock-quarterly-profit-rises\/attachment\/file-photo-a-sign-for-blackrock-inc-hangs-above-their\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Oklahoma Department of Homeland Security carries out a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oklahoma-department-of-homeland-security-makes-child-pornography-bust\/\" title=\"Oklahoma DHS makes child porn bust.\">major child pornography sting<\/a>. One suspect faces 20 years in prison, in addition to paying restitution to his victims.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Secret Service cleans up White House Marijuana and Cocaine, while Bob Iger tells Hollywood workers to eat cake<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>This week\u2019s NATO summit in Lithuania focused heavily on Ukraine and the bloc\u2019s ongoing conflict with Russia. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Internet is still ablaze as the mystery woman, caught on video on an American Airlines flight who began yelling that a fellow passenger was \u201cnot real!\u201d<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>WASHINGTON (Reuters) \u2013 A U.S. federal court rejected the Federal Trade Commission\u2019s request that it order Microsoft to temporarily hold off on\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Sarita Chaganti Singh and Aditi Shah NEW DELHI (Reuters) -China\u2019s BYD Co has submitted a $1 billion investment proposal to build\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SEOUL (Reuters) \u2013 Tesla began selling its Model Y <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mixed-martial-arts-hill-to-vacate-ufc-title-after-suffering-achilles-injury\/\" title=\"MMA champ Hill to relinquish UFC title due to Achilles injury.\">rear-wheel drive car<\/a> on Friday in South Korea at a price of 56.99\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>KUALA LUMPUR (Reuters) \u2013 Malaysian Prime Minister Anwar Ibrahim said on Friday he held a call with billionaire Elon Musk to discuss\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BlackRock, the biggest asset manager globally, saw a 25% surge in Q2 adjusted profit as investors continued to invest in its market funds. The company earned $1.4 billion, or $9.28 per share, in the three months ending June 30, compared to $1.1 billion, or $7.36 per share, in the previous year.<\/p>\n","protected":false},"author":66,"featured_media":1972815,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1972814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1972814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1972814"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1972814\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1972815"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1972814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1972814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1972814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}