BlackRock Reports Strong Q3 Earnings, Record $11.5 Trillion AUM with $221B Inflows

Oct 11, 2024, 11:47 AM

BlackRock Inc. reported strong third-quarter earnings, with adjusted earnings per share (EPS) of $11.46, surpassing estimates of $10.34. The company's revenue for the quarter reached $5.20 billion, exceeding the expected $5.00 billion. BlackRock's assets under management (AUM) surged to a record $11.5 trillion, driven by significant net inflows of $221.2 billion. This marks an unprecedented increase from the previous year's $2.57 billion. The firm's long-term net inflows totaled $160.2 billion, further contributing to its growth. CEO Larry Fink highlighted that both quarterly revenue and operating income set new records, with revenue up 15% and operating income up 26% year-over-year. BlackRock also executed $375 million in buybacks during the quarter. The company's AUM reached $11.48 trillion, with an adjusted operating margin of 45.8%. Equity net inflows amounted to $74.1 billion.