BlackRock AUM Hits Record $15.5T, Q3 Inflows Beat Estimates
BLK sits 19% above its 52-week low of $917.39.
Summary
BlackRock's Q3 assets under management climbed to a record $15.5 trillion, up 15% year-over-year and above the $15.3 trillion reported in Q2. Net client inflows of $205 million beat the $192 million consensus, and revenue and adjusted income also topped analyst expectations. Q3 revenue was $7.75 billion, EPS was $10.57, adjusted operating income was $3.33 billion, and adjusted operating margin was 47.8%. Organic base fee revenue rose 10%. This follows a string of high-profile infrastructure and data-center investments, including the $4.9 billion El Paso campus stake and exclusive talks for Stack Infrastructure's APAC assets. The beat on inflows and AUM growth reinforces the firm's momentum in ETFs and private markets. Q3 earnings call details are not yet specified.
Updates
· Reuters — BlackRock completed $550 million in share repurchases during Q3 and technology services revenue grew 14% year-over-year.
At the time of this announcement, BLK was trading at $1,090.00 on NYSE in the Finance sector, with a market capitalization of approximately $173.2B. The 52-week trading range was $917.39 to $1,219.94. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.