BlackRock, Inc. (NYSE:BLK) stock fell 2.93% (As on Apr 14, 1:06:08 AM UTC-4, Source: Google Finance) after the company posted mixed result for the first quarter of FY 22. BLK has reported a net income of $1.4 billion which is 20% less or $1.2 billion net income in the same period. Even as uncertainty mounted over Russia’s invasion of Ukraine and the Federal Reserve’s response to fast-rising consumer prices, clients added a total of $114 billion to BlackRock’s long-term investment products in the three months through March, the New York-based firm said Wednesday in a statement.  Equity funds led the way, with a $76 billion haul, while bond funds saw $7.5 billion – despite fixed-income markets tensing as the Fed begins to raise interest rates to combat inflation at a four-decade high. BlackRock’s total assets under management slid to $9.57 trillion at the end of March after the firm crossed the $10 trillion mark at the end of last year. The firm’s higher-fee products and actively managed funds contributed to nearly 50% of the manager’s fees the previous quarter. It is so even though it makes only one-quarter of the firm’s total AUMs. Meanwhile, BlackRock’s ETFs received $56 billion as inflows, and the clients are increasingly using them to allocate their capital efficiently. Other reasons for increased ETF cash infusion include risk management and liquidity accessibility. He also stated that the active net flows were in the range of $20 billion led by LifePath target-date strategies and strong demand for alternatives. The company witnessed $114 billion of quarterly long-term net inflows. Further, BlackRock reported flows of $45 billion to the Europe, Middle East and Africa region. That compares to $41 billion in Asia-Pacific, and $28 billion in the Americas.

BLK in the first quarter of FY 22 has reported the adjusted earnings per share of $9.52, beating the analysts’ estimates for the adjusted earnings per share of $8.79, according to average estimate of analysts surveyed by Bloomberg. The company had reported the adjusted revenue growth of 7 percent to $4.7 billion in the first quarter of FY 22, slightly missing the analysts’ estimates for revenue of $4.8 billion. This is driven by strong organic growth and 11% growth in technology services revenue, partially offset by lower performance fees 14% increase in operating income year-over-year includes the impact of $178 million of fund launch costs in the first quarter of 2021. Performance fees decreased $31 million from the year-ago period, which BlackRock attributed in part to lower revenue from its liquid alternatives business.

Additionally, the company made $500 million of share repurchases in the quarter and 18% increase in quarterly cash dividend to $4.88 per share