BlackRock’s Q4 Adjusted Earnings, Revenue Increase; Signs Deal to Acquire Global Infrastructure Partners

BlackRock (BLK) reported Q4 adjusted earnings Friday of $9.66 per diluted share, up from $8.93 a year earlier.

Analysts surveyed by Capital IQ expected $8.84.

Revenue for the quarter ended Dec. 31 was $4.63 billion compared with $4.34 billion a year earlier.

Analysts surveyed by Capital IQ estimated $4.63 billion.

The company said its board approved a 2% increase in the quarterly cash dividend to $5.10 per share, payable on March 22 to shareholders on record as of March 7.

In a separate statement, BlackRock and Global Infrastructure Partners, or GIP, said they signed a deal for BlackRock’s acquisition of GIP for $3 billion in cash and about 12 million common BlackRock shares.

BlackRock plans to fund the transaction’s cash consideration using $3 billion in additional debt, while the stock consideration will be deferred and issued in about five years, according to the statement. The company said the acquisition is estimated to be “modestly accretive” to its adjusted EPS in the first year from closing and that it expects to close the transaction in Q3.

Scroll to Top