BlackRock (NYSE:BLK) delivered third-quarter results that exceeded Wall Street expectations, fueled by record inflows into its exchange-traded funds (ETFs) and robust performance across multiple business lines.
The world’s largest asset manager reported earnings of $11.55 per share for Q3, surpassing consensus estimates of $11.31. Revenue climbed 25% year-over-year to $6.51 billion, above projections of $6.29 billion, supported by stronger market conditions, fees tied to the GIP and HPS transactions, and increased technology and subscription income.
Assets under management reached an all-time high of $13.46 trillion, bolstered by $205 billion in net inflows. BlackRock said its iShares ETFs recorded record-breaking intake, driving 10% annualized organic base fee growth for the quarter, with additional contributions from private markets, outsourcing mandates, systematic strategies, and cash products. Adjusted operating income increased 23% to $2.61 billion.
CEO Laurence D. Fink said the strong inflows underscore the firm’s “multiple sources of growth,” emphasizing momentum in digital assets, private markets, and ETF demand. He noted that BlackRock’s push into technology and data analytics, combined with its positioning in public and private investments, is already feeding into “landmark fundraising and deal flow.”
Fink also highlighted that clients are increasingly seeking “deeper, more dynamic partnerships” spanning both public and private markets, pointing to an expanding pipeline of mandates as proof of the company’s strategic direction.
AUM in iShares surpassed $5 trillion, while cash strategies topped $1 trillion. “We’re entering our seasonally strongest fourth quarter with building momentum and a fully unified platform,” Fink said.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.