BlackRock Q2 sees dip in securities lending revenue
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BlackRock Q2 sees dip in securities lending revenue 19 July 2019New York Reporter: Maddie Saghir
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BlackRock has revealed a 2 percent decrease in year-over-year revenue for Q2, which was partly driven by lower securities lending revenue, and lower performance fees.
The Q2 report also found an 11 percent decrease in operating income year-over-year, which reflects $61 million of fund launch costs.
Meanwhile, there was $151 billion of quarterly total net inflows, or 9 percent organic asset growth, driven by record fixed income and cash activity for BlackRock鈥檚 Q2.
Additionally, the Q2 report noted a 20 percent growth in technology services revenue year-over-year reflects momentum in Aladdin and the impact of the eFront acquisition, which closed in May 2019.
Laurence D. Fink, chairman and CEO, commented: 鈥淏lackRock continues to be disciplined in the way we invest in and evolve our platform.鈥�
He added: 鈥淏y approaching client needs comprehensively, bringing together the entirety of our global investment and technology platform, I am more confident than ever that we will continue to deliver exceptional long-term value for both clients and shareholders.鈥�
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