BlackRock Q3 earnings beat estimates on revenue and EPS
BlackRock reported third-quarter results that exceeded analyst expectations for both adjusted earnings per share and total revenue. The asset manager posted an adjusted EPS of $15.93, surpassing the consensus estimate of $14.30 by 11.4%. Total revenue reached $7.75 billion. That outpaced the projected $7.43 billion by 4.3%.
BlackRock reported third-quarter results that exceeded analyst expectations for both adjusted earnings per share and total revenue. The asset manager posted an adjusted EPS of $15.93, surpassing the consensus estimate of $14.30 by 11.4%. Total revenue reached $7.75 billion. That outpaced the projected $7.43 billion by 4.3%.
On a GAAP basis, BlackRock recorded an EPS of $10.57. This marks a significant increase from the $8.43 reported in the same period last year. Net income climbed 25.7% year over year to reach $1.66 billion. The company’s adjusted operating income stood at $3.33 billion, resulting in an adjusted operating margin of 47.8%.
Assets under management grew 15% year over year to $15.49 trillion during the quarter. This growth was supported by net inflows of $205.47 billion and a 10% increase in organic base fee growth.
Strategically, BlackRock highlighted its activity in private markets, noting it raised $68 billion over the past 12 months. The firm also stated that its first AI infrastructure investment was deployed during the current quarter.