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.
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The largest asset manager reported an increase in quarterly revenues and profits, reaching a record $15.5 trillion in assets.The firm highlighted the popularity of the ETFs, which attracted much of the new funds, and a 25% increase in their annual net profit.
BlackRock, the world's largest asset manager, captured US$ 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…
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