What can one company’s results tell us about the economy?

Mitchell Hartman Apr 16, 2019
HTML EMBED:
COPY
“We believe companies need purpose," BlackRock CEO Larry Fink says. Toru Yamanaka / Staff

What can one company’s results tell us about the economy?

Mitchell Hartman Apr 16, 2019
“We believe companies need purpose," BlackRock CEO Larry Fink says. Toru Yamanaka / Staff
HTML EMBED:
COPY

BlackRock — the huge New York-based investment firm — today came in with some quite good financial results for the first quarter of 2019. At least, the numbers are good when you consider what was going on as the year started. With markets tanking at that time and a prolonged government shutdown, Wall Street forecasters were expecting a big decline in revenues and profits compared to the same quarter last year. Instead, BlackRock’s profits fell just slightly, as did its revenue. Meanwhile, its total assets under management actually rose by 3%, to $6.5 trillion. What can the firm’s first quarter tell us about the overall U.S. economy?

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.