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Growth in AUM Likely to Support BlackRock's (BLK) Q1 Earnings

BlackRock, Inc. (NYSE: BLK) is slated to report first-quarter 2024 results on Apr 12 before the opening bell. Its revenues and earnings are expected to have improved in the quarter on a year-over-year basis. In fourth-quarter 2023, BLK's earnings surpassed the Zacks Consensus Estimate. Results benefited from a rise in revenues and higher non-operating income. Further, the assets under management balance witnessed improvement owing to net inflows. BlackRock has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering a surprise of 12.6%, on average. BlackRock, Inc. Price and EPS Surprise BlackRock, Inc. price-eps-surprise | BlackRock, Inc. Quote The company's business activities and prospects in the to-be-reported quarter have encouraged analysts to revise earnings estimates upward. The Zacks Consensus Estimate for BlackRock's first-quarter earnings of $9.36 has been revised 1.3% upward over the past seven days. The figure indicates a rise of 18% from the year-ago quarter's reported number. Our estimate for first-quarter earnings is pinned at $9. The consensus estimate for sales is pegged at $4.67 billion, which suggests a rise of 10.2% from the prior-year quarter's reported number. Our estimate for sales is pinned at $4.60 billion. Before we take a look at what our quantitative model predicts for the to-be-reported quarter, let us discuss the factors that are likely to have impacted the company's quarterly performance. Key Factors & Estimates for Q1 BlackRock has been a dominant player in the exchange traded fund ("ETF") market, given its continued investments in the U.S. iShare core ...