BlackRock, Inc. BLK reported first-quarter 2016 adjusted earnings of $4.25 per share, which lagged the Zacks Consensus Estimate of $4.29. Also, the bottom line came in 13% lower than the year-ago quarter figure. Blackrock Inc. (BLK) EPS BNRI & Surprise Percent - Last 5 Quarters | FindTheCompany Lower-than-expected quarterly results were due to a decrease in revenues triggered by market volatility. However, an almost stable expense line was a positive. Further, assets under management (“AUM”) reflected a year-over-year decline during the quarter.After considering certain non-recurring items, net income for BlackRock in the quarter was $657 million or $3.92 per share, down from $822 million or $4.84 per share in the prior-year quarter.DetailsRevenue declined 4% year over year to $2.62 billion. The fall was due to a decrease in all revenue components except BlackRock Solutions and advisory. Further, the reported figure missed the Zacks Consensus Estimate of $2.72 billion.Total expenses amounted to $1.66 billion, almost flat on a year-over-year basis. A restructuring charge of $76 million related to an initiative to streamline and simplify organization was largely offset by a reduction in other expense components.Non-operating expense (on a GAAP basis) came in at $48 million, as against non-operating income of $16 million in the prior-year quarter.BlackRock’s adjusted operating income came in at $1.05 billion, down 3% year over year.As of Mar 31, 2016, AUM totaled $4.74 trillion, down 1% year over year. Further, during the reported quarter, the company witnessed total long-term net inflows of $36.1 billion.Share RepurchaseBlackRock bought back shares worth about $300 million in the reported quarter.Our TakeBlackRock continues to capitalize on opportunistic acquisitions to boost performance. Moreover, its initiatives to enhance market share in the ETF business are expected to aid revenue growth, going forward. Also, the company’s enhanced capital-deployment activities remain impressive.Nonetheless, high dependence on fee-based revenues and regulatory restrictions on its revenue sources remain matters of concern.Currently, BlackRock holds a Zacks Rank #2 (Buy).Among other investment managers, The Blackstone Group L.P. BX, Ameriprise Financial, Inc. AMP and Invesco Ltd. IVZ are scheduled to report results on Apr 21, Apr 27 and Apr 28, respectively.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 INVESCO LTD (IVZ): Free Stock Analysis Report AMERIPRISE FINL (AMP): Free Stock Analysis Report BLACKSTONE GRP (BX): Free Stock Analysis Report BLACKROCK INC (BLK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research