American Blackrock, the world's largest capital manager, reports an unexpectedly large profit increase for the second quarter of the year.
The managed capital reached a new record level: 10,650 billion dollars. Converted to kronor, it becomes 112,500 billion – which is approximately 18 times as much as Sweden's entire GDP in 2023.
This is an increase of 13 percent compared to the same quarter a year earlier. Analysts had on average hoped for more. The average forecast was 10,730 billion dollars, according to a compilation of forecasts by the news agency Bloomberg.
The profit, however, increased more than expected, to 10.36 dollars per share. This can be compared to 9.28 dollars per share a year earlier and an average forecast of a profit increase to 9.93 dollars per share.
The operating margin increased to 37.5 percent, compared to 36.2 percent a year earlier. The average forecast was 37.1 percent.
The net inflow to the capital manager increased by 1.8 percent to 81.6 billion dollars – which was slightly less than the expected 101.2 billion according to the average forecast.
