BlackRock's Q3 2024 earnings report

BlackRock Q2 Earnings: Record $10.6 Trillion AUM, Surpasses EPS Estimates

Jul 15, 2024, 02:31 PM

BlackRock has reported its second-quarter 2024 earnings, revealing an adjusted earnings per share (EPS) of $10.36, surpassing the estimated $9.96. The company generated $4.81 billion in revenue, slightly below the expected $4.87 billion. BlackRock's assets under management (AUM) reached a record $10.6 trillion, an increase of 13% year-over-year, although it fell short of the estimated $10.73 trillion. The firm saw net inflows of $81.57 billion, compared to the expected $101.24 billion. CEO Larry Fink highlighted significant growth driven by private markets, retail active fixed income, and ETF inflows. The firm's market cap stands at $123.04 billion. Additionally, Fink has publicly endorsed Bitcoin, calling it a legitimate financial instrument and digital gold, marking a significant shift in his stance.