5 Stocks Making Headlines After Releasing Their Financial Results

3. BlackRock, Inc. (NYSE:BLK)

Number of Hedge Fund Holders: 49

Shares of BlackRock, Inc. (NYSE:BLK) marginally moved down on Wednesday, April 13, 2022, following its mixed financial performance for the first quarter. The investment management giant reported adjusted earnings of $9.52 per share, up from $8.04 per share in the year-ago quarter.

Revenue for the quarter increased approximately 7 percent on a year-over-year basis to $4.69 billion. Analysts were expecting BlackRock, Inc. (NYSE:BLK) to report earnings of $8.75 per share on revenue of $4.73 billion.

Among other updates, BlackRock, Inc. (NYSE:BLK) reported that it had $9.57 trillion in assets under management at the end of the quarter versus $9.01 trillion in the comparable period of 2021.

Commenting on the results, CEO Laurence Fink said in a statement:

“BlackRock generated $114 billion of long-term net inflows in the first quarter, with positive flows across all product types, investment styles and regions, demonstrating the breadth of our asset management platform.”