BlackRock Inc (BLK) Q2 2024 10-Q Quarterly Report
Filed: Aug 6, 2024Period ending Jun 30, 2024
Financials
Security Brokers, Dealers & Flotation CompaniesSEC EDGAR BlackRock Inc (BLK) 10-Q quarterly report for Q2 2024, filed with SEC EDGAR on Aug 6, 2024 for the fiscal period ending Jun 30, 2024. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
BlackRock Inc Q2 2024 10-Q Analysis
Management Discussion & Analysis
- • Revenue $4.8B for Q2 FY24, up $342M (8%) YoY from $4.5B in Q2 FY23, driven by organic base fee growth and higher performance fees
- • GAAP operating margin 37.5% vs 36.2% YoY, as adjusted operating margin 44.1% vs 42.5% YoY for Q2 FY24, reflecting higher base fees and technology revenue
- • Best segment: ETFs with $83B net inflows in Q2 FY24 led by fixed income ($34B) and equity ($32B); Worst: Institutional index with $35B net outflows primarily in equities
- • Cash and equivalents $10.2B June 30, 2024, liquidity resources $15.4B up $2.0B from Dec 31, 2023, share repurchases $875M in H1 2024, net cash from operating activities excluding consolidated sponsored products positive
- • Management expects completion of GIP acquisition Q3 2024 and Preqin acquisition by year-end; notes potential risks from foreign exchange, regulatory changes, and integration costs
Risk Factors
- • No new or changed risk factors disclosed this quarter versus 2023 10-K
- • Continued exposure to market volatility could materially impact assets under management and fee revenue
- • Regulatory changes in investment management remain a critical compliance risk, including SEC rule proposals
- • Competitive pressures from fintech and asset managers constrain growth and client retention near term
- • Reliance on liquidity and credit markets for operational funding remains a key financial risk factor
BlackRock Inc Q2 2024 Quarterly FinancialsXBRL
Revenue
$4.8B
▲ +7.7% YoY▲ +1.6% QoQ
Net Income
$1.5B
▲ +9.4% YoY▼ -5.0% QoQ
Operating Margin
37.5%
▲ +127bp YoY▲ +165bp QoQ
Net Margin
31.1%
▲ +51bp YoY▼ -216bp QoQ
ROE
3.7%
Total Assets
$125.3B
EPS (Diluted)
$9.99
▲ +10.3% YoY▼ -4.7% QoQ
Operating Cash Flow
$1.4B
▲ +38.6% YoY▲ +434.6% QoQ
Source: XBRL data from BlackRock Inc Q2 2024 10-Q filing on SEC EDGAR. All figures in USD.
Get deeper insights on BlackRock Inc
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.