BlackRock's Q2 2012 revenue dips 19 July 2012New York Reporter: Georgina Lavers
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BlackRock’s Q2 2012 revenue of $2.2 billion decreased $118 million from $2.3 billion in Q2 2011, partly due to its investment advisory, administration fees and securities lending revenue of $2 billion decreasing from the Q2 2011 figure of $2.1 billion.
“Higher revenues from fixed income products, predominantly iShares, were more than offset by lower fees from equity products due to market-driven reduction in average equity AUM,” said the firm in its financial statement.
Securities lending fees were $157 million in Q2 2012 compared with $134 million in Q2 2011.
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