BlackRock's official quarterly financial reports

BlackRock Reports Strong Q3 Earnings, Record $11.48 Trillion AUM, 26% YoY Increase

Oct 11, 2024, 10:12 AM

BlackRock Inc. reported strong third-quarter earnings, beating estimates on multiple fronts. The company posted an adjusted EPS of $11.46, surpassing the expected $10.34, and revenue of $5.2 billion, exceeding the projected $5.00 billion. BlackRock's assets under management (AUM) reached a record $11.48 trillion, up 26% year-over-year, driven by $160 billion in client cash inflows to its long-term investment funds. The firm also achieved net inflows of $221.18 billion, significantly higher than the estimated $127.2 billion. CEO Larry Fink highlighted that quarterly revenue and operating income set new records, with a 15% and 26% increase year-over-year, respectively. The company's operating margin improved to 45.8%, up from 42.3% the previous year. Additionally, BlackRock conducted $375 million in share repurchases during the quarter.