Have you been eager to see how BlackRock, Inc. BLK performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based investment management company’s earnings release this morning:An Earnings MissBlackRock came out with adjusted earnings per share of $4.25, missing the Zacks Consensus Estimate of $4.29.Lower-than-expected results reflected impact of a decline in average AUM and lower performance fees.How Was the Estimate Revision Trend?You should note that the earnings estimate revisions for BlackRock depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 1% lower over the last 30 days.However, BlackRock has a decent earnings surprise history. Before posting an earnings miss in Q1, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 5.29% in the trailing four quarters.Revenue Came In Lower Than ExpectedBlackRock posted revenues of $2.62 billion, which compared unfavorably with the Zacks Consensus Estimate and the year-ago quarter figure of $2.72 billion.Key Developments to Note:Assets under Management of $4.74 trillion as of Mar 31, 2016 $36.1 billion of long-term net inflows in the quarter During the quarter, iShares saw more than $24 billion of total net inflows, capturing the #1 market share of net inflows globally, in the US and in Europe. What Zacks Rank SaysThe estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for BlackRock. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.Check back later for our full write up on this BlackRock earnings report!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BLACKROCK INC (BLK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research