:max_bytes(150000):strip_icc()/GettyImages-2208733172-6202461cb8c04be9baf641c37adbaf57.jpg?w=1920&resize=1920,1267&ssl=1 "BlackRock CEO Fink Says ‘Uncertainty and Anxiety’ Dominate Client Conversations")
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key takeaways
- Blackrock on Friday estimated the profit for the first quarter, while the revenue fell low.
- The investment giant set a new record for assets under management at $ 11.58 trillion.
- CEO Larry Fink said that “uncertainty and concern about the economy and the stock market” is “dominated” with Blackrock customers.
Blackrock (BLK) reported a better-as-from first-witted adjusted benefits as the investment giant reported another property under the management (AUM) record.
The company reported an adjusted income of $ 11.30 per share (EPS), which was well expected from analysts of $ 10.13, while the revenue was reduced by visible alpha estimates in $ 5.28 billion.
At the end of the first quarter, Blackrock had a record of $ 11.58 trillion in AUM, which was 11% year-on-year.
Larry Fink, CEO of Blackrock, said, “Uncertainty and concern about the future of markets and economy dominate customer dialogues.” “We have seen such a period when there were large, structural changes in policy and markets – such as financial crisis, covid, and inflation in 2022. We have always been associated with customers, and some of the biggest jump of Blackrock increased.”
Fink said on Monday that the tariffs of the Trump administration could prevent inflation, saying that most of the CEOs have believed that “maybe in a recession with the US.”
Blackrock shares were less than 1% soon after the market opened on Friday. He entered the day 16% since the beginning of the year.
Update- This article has been updated with the latest share price information.
