BlackRock Reports Record $11.5 Trillion AUM in Q3 2024 with $221B Inflows, 26% YoY Growth

Oct 11, 2024, 10:23 AM

BlackRock Inc. reported strong third-quarter earnings for 2024, achieving record assets under management (AUM) of $11.5 trillion, including $11.48 trillion estimated. The world's largest money manager saw significant growth driven by $221 billion in net inflows, surpassing the estimated $127.2 billion. Long-term net inflows reached $160 billion, contributing to the overall increase. BlackRock's adjusted earnings per share (EPS) stood at $11.46, exceeding the expected $10.40. Revenue for the quarter was $5.2 billion, up 15% year-over-year, and above the estimated $5.00 billion. The company's operating margin improved to 45.8%, compared to 42.3% the previous year. CEO Larry Fink highlighted the firm's robust performance, noting that both quarterly revenue and operating income set new records, with a 26% year-over-year increase in AUM. Additionally, BlackRock executed $375 million in buybacks in Q3 2024.