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![BlackRock Inc. [BLK] reports annual net loss of $5.7 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FBLK.png&w=1200&q=75)
BlackRock Inc. [BLK] has reported a net loss of $5.7 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $17.9 billion
Based in NEW YORK, New York, BlackRock Inc. operates in the FINANCE sector.
In the fiscal year ending December 31, 2023, BlackRock, Inc. reported total revenue of $17.86 billion, slightly down from the previous year's revenue of $17.87 billion and significantly lower than the revenue of $19.37 billion in 2021.
The company's operating income for the same period was $6.28 billion, a slight decrease from the $6.39 billion reported in 2022 and a significant drop from the $7.45 billion in 2021.
BlackRock, Inc. achieved a net income of $5.68 billion in 2023, which was higher than the $4.99 billion reported in 2022 but lower than the $6.20 billion in 2021.
Earnings per share attributable to BlackRock, Inc. common stockholders for the basic amount were $36.85 in 2023, compared to $34.31 in 2022 and $38.76 in 2021. The diluted earnings per share were $36.51 in 2023, $33.97 in 2022, and $38.22 in 2021.
The weighted-average common shares outstanding for basic calculations were 149.33 million in 2023, 150.92 million in 2022, and 152.24 million in 2021. For diluted calculations, the shares were 150.71 million in 2023, 152.44 million in 2022, and 154.40 million in 2021.
In terms of revenue by segment, Investment Advisory, Administration Fees, and Securities Lending Revenue totaled $14.40 billion in 2023, slightly lower than the $14.45 billion in 2022 and significantly below the $15.26 billion in 2021. Revenue from Investment Advisory, Administration Fees, and Securities Lending to Related Parties totaled $10.76 billion, to Other Third Parties totaled $3.64 billion, and from Investment Advisory Performance Fees totaled $554 million in 2023.
Technology Services Revenue amounted to $1.49 billion in 2023, up from $1.36 billion in 2022 and $1.28 billion in 2021. Distribution Fees generated $1.26 billion in 2023, lower than $1.38 billion in 2022 and $1.52 billion in 2021. Advisory and Other Revenue totaled $159 million in 2023, $163 million in 2022, and $169 million in 2021.
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