BlackRock (BLK.US) and UnitedHealth Group (UNH.US), an insurance and healthcare company, showed results for Q1. Although the results – especially BlackRock’s in essence – do not impress, the shares of both companies are trading slightly higher after the publications, in pre-opening trade in the US market. Later in the hour, key banking sector results from JP Morgan, Wells Fargo and Citigroup will be released.

BlackRock (BLK.US)

The world’s largest mutual fund reported flat, in line with expectations, but beat analysts’ expectations in terms of earnings and assets under management (AUM), which again rose above $9 trillion. They turned out to be higher than estimates by about $230 billion. Although earnings per share turned out to be lower than in Q3 and Q4 2022, the stock traded slightly higher in pre-market trading.

Net income of $1.1 billion shows that the fund is still being dragged down by lower margins and performance fees. AUM, while beating expectations, is still nearly $1 trillion lower than the record Q4 2021. Growth in assets under management was partly fueled by the general unwinding of the markets at the beginning of the year. BlackRock generated $110 billion in net inflows, mostly from bond-based funds.

Revenues: $4.24 billion vs. $4.24 billion forecast, $4.7 billion Q1 2022 down 10% y/y

Earnings per share (EPS): $7.93 vs. $7.67 forecast, $9.35 in Q1 2022 down 19% y/y

AUM: $9.09 trillion vs. $8.86 trillion

UnitedHealth Group (UNH.US)

The insurance and medical services giant surprised analysts with higher revenue, profit and raised full-year forecasts, much to the delight of investors. After the forecasts, it’s clear that the company doesn’t expect a revenue recession and is hoping to at least maintain its current momentum. The shares are gaining nearly 1% before the open.

Revenues: $91.9 billion vs. $89.45 billion forecast, $80.15 billion in Q1 2022

Earnings per share (EPS): $6.26 vs. $6.06 forecast, $5.49 in Q1 2022

Full-year EPS forecast: $24.5 to $25 per share vs. $24.91 forecasts

BlackRock (BLK.US) shares, W1 interval. The company’s shares maintains an upward trendline and is at a significant price point, measuring against the 200-session average on the W1 interval. A renewed drop below $670 could herald broader weakness, however, the stock is gaining ahead of the open. Source: xStation5