BlackRock Q1 Beats on Earnings and Revenue

Shares of BlackRock (NYSE: BLK) ended the week on a high note, even though the sprawling financial services company reported a steep fall in net inflows for its first quarter of fiscal 2020.

For the quarter, in spite of that decline -- which was 46% on a year-over-year basis to just under $35 billion -- the company managed to increase its revenue. This line item grew by 11% to $3.71 billion. On a GAAP basis, net income decreased by 23% to land at $806 million ($6.61 per share). Non-GAAP (adjusted) profitability saw a gentler fall, slipping 2% to $1.03 billion.

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Source Fool.com