BlackRock Inc. (NYSE: BLK) reported stronger-than-expected third-quarter results as assets under management (AUM) climbed to a record level, fueled by robust market performance and solid net inflows.
The world’s largest asset manager posted earnings of $11.55 per share for the quarter, topping Wall Street’s consensus estimate of $11.31. Revenue jumped 25% year-over-year to $6.51 billion, surpassing expectations of $6.29 billion. The increase was driven by market appreciation, performance fees from GIP and HPS transactions, and growth in technology and subscription-based income.
AUM reached a record $13.46 trillion, supported by $205 billion in net inflows. BlackRock said its iShares ETFs achieved an all-time high in quarterly inflows, contributing to a 10% annualized organic base fee growth. Additional momentum came from private markets, outsourcing mandates, systematic strategies, and cash management products.
Adjusted operating income rose 23% to $2.61 billion.
CEO Laurence Fink said the results reflected “multiple sources of growth,” highlighting continued strength in ETFs, private markets, and digital asset initiatives. He added that BlackRock’s technology and data analytics expansion was already driving “landmark fundraising and deal flow.”
Fink also noted growing client demand for “deeper, more dynamic partnerships” across public and private assets, emphasizing that the firm’s expanding mandate pipeline validated this strategic approach.
