BlackRock Guides Strong Q4 on AI and Private Markets Momentum
BLK sits 16% above its 52-week low of $917.39.
Summary
BlackRock's Q3 earnings call delivered forward-looking guidance that goes beyond the already-reported record AUM and EPS beat. Management expects momentum to continue into the seasonally strong fourth quarter, supported by broad activity across iShares, private markets, retirement, and international platforms. The company repurchased $550 million of shares in Q3 and plans at least another $550 million in Q4, consistent with July guidance. Private markets fundraising reached $68 billion over the past 12 months, including $25 billion in private credit during the first full year with HPS. The AI infrastructure partnership completed its first deployment with the closing of the Align Data Center transaction at approximately $40 billion enterprise value, and BlackRock is partnering with Meta to finance a planned $14 billion Texas data center. These specifics on AI and private credit expansion, plus the explicit Q4 outlook, give traders new information beyond the Q3 numbers already reported this morning.
At the time of this announcement, BLK was trading at $1,066.00 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 positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.