BlackRock Reports First Quarter 2019 Diluted EPS of $6.61

16 april 2019

• $65 billion of quarterly total net inflows, or 4% organic asset growth, positive across index, active and cash management strategies
• 5% decrease in base fees year-over-year primarily reflects impact of negative markets in the fourth quarter and continued dollar appreciation
• 11% growth in technology services revenue year-overyear, driven by continued momentum in Aladdin®
• 1% decrease in diluted EPS year-over-year reflects lower operating income and a higher effective tax rate in the current quarter, partially offset by higher nonoperating income
• $1.6 billion of share repurchases in the quarter reflects completion of a $1.3 billion private transaction on March 25, 2019
• 5% increase in quarterly cash dividend to $3.30 per share

Laurence D. Fink, Chairman and CEO:

"BlackRock's broad investment platform generated $65 billion of total net inflows in the first quarter, representing 4% organic growth. The breadth of our investment capabilities, spanning index, alphaseeking, alternatives and cash, coupled with our industry-leading technology and portfolio construction capabilities, allowed us to generate strong flows and continue to meet the evolving needs of our global clients. iShares once again captured the number one market share of global ETF industry flows, paced by a record $32 billion of net inflows into fixed income ETFs. Our active franchise generated $14 billion of net inflows, reflecting strength in active fixed income and a record quarter for illiquid alternatives, which included a first close of Long Term Private Capital, an innovative direct private equity vehicle that rounds out our comprehensive alternative investing capabilities.

We continued to strategically invest in our world-class Aladdin technology business, which grew revenue 11% year-over-year, and entered an exclusive agreement to acquire eFront, the leading alternatives investment software provider. The combination of eFront with Aladdin will set a new standard in investment and risk management technology, vastly expanding Aladdin’s alternatives capabilities and providing a whole-portfolio technology solution to clients.

BlackRock continues to build and evolve our organization, ahead of changing client needs, in order to drive strong investment performance, enhance the client experience and deliver long-term value for shareholders.”