BlackRock: Q3 Earnings Snapshot – WTOP News
- On Wednesday, New York-based BlackRock reported third-quarter profit of $1.66 billion, posting revenue of $7.75 billion that exceeded Street forecasts for the period.
- Driven by higher management fees, BlackRock's assets under management climbed to $15.49 trillion, rising from $13.46 trillion a year earlier.
- Profit rose to $10.57 per share from $8.43 a year earlier, while adjusted earnings reached $15.93 per share; shares of the firm rose 3.1% in premarket trading.
- Despite the firm's recent financial gains, shares of BlackRock have declined roughly 8% in the last 12 months, while the benchmark index has risen 14% this year.
- Asset managers navigate a volatile environment this year due to shifting trade policies and surging oil prices from the Iran war, though unrelenting rallies in AI-focused stocks bolster markets even as the Federal Reserve tightens.
33 Articles
33 Articles
BlackRock, the world's largest asset manager, captured US$ 205 billion in new resources during the third quarter of this year, surpassing the average forecast of US$ 192 million of analysts. With strong customer flows, the total assets under management reached a record of US$ 15.5 trillion, 15% higher than the same period of the previous year. Between July and September, BlackRock reported adjusted profit of US$ 15.93 per share, representing a h…
BlackRock (NYSE:BLK) Announces Earnings Results
BlackRock (NYSE:BLK - Get Free Report) issued its earnings results on Wednesday. The asset manager reported $15.93 earnings per share for the quarter, beating analysts' consensus estimates of $14.32 by $1.61. BlackRock had a return on equity of 14.90% and a net margin of 24.09%. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.42 billion. During the same quarter last year, the firm earned $8.43 earn…
The world's largest asset manager, BlackRock, significantly increased its profit in the third quarter of this year thanks to higher management fees, while the value of assets under management rose to a new historical high, CNBC reported. We will also cover similar topics at our Portfolio Investment Day conference on October 21. One of the biggest investment events of the year is coming, where professional experts will tell you what is worth inve…
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