BlackRock Profit Climbs and Brutal Quarter for Delta ✈
BlackRock Profit Climbs and Brutal Quarter for Delta
The world’s largest money manager BlackRock Inc.’s quarterly profit rose by 22%. These results have shown that the company has been able to continue to grow despite the effects that the coronavirus has had on the world economy.
Over the past decade, the company has been able to expand due to their exchange-traded fund offerings and actively managed funds. In the third quarter alone, active strategies took in $47.1 billion in new funding and iShares exchange-traded funds took in $50.5 billion in the quarter.
Airlines are one of the sectors that have been hit the hardest by the coronavirus pandemic. The numbers are in and Delta airlines just posted another massive loss in their third quarter earnings release.
Delta has lost over $11 billion in the last two quarters and came short of analyst expectations with revenue in the third quarter coming in under $3.06 billion. To put these numbers into perspective, these revenue numbers are down 75% compared to the same time last year. Year to date, Delta shares have dropped over 45%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.