BlackRock Q1 Results Top Estimates, Boosts Qtly Dividend - Quick Facts

(RTTNews) - BlackRock, Inc. (BLK) reported that its first-quarter net earnings edged down to $1.05 billion or $6.61 per share from $1.09 billion or $6.68 per share in the year-ago quarter.

Total revenue for the quarter declined 7 percent year-over-year to $3.35 billion from $3.58 billion last year, due to a 5 percent drop in base fees year-over-year primarily reflecting the impact of negative markets in the fourth quarter and continued dollar appreciation.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $6.13 per share on revenues to $3.34 billion for the year. Analysts' estimates typically exclude special items.

However, technology services revenue grew 11 percent from last year, driven by continued momentum in Aladdin.

The company's broad investment platform generated $64.67 billion of total net inflows, representing 4 percent organic growth.

The company also declared a 5 percent increase in quarterly cash dividend to $3.30 per share.