BlackRock Shares Rise After Earnings Beat and Record $13.46 Trillion in Assets Under Management

Core Insights - BlackRock Inc. reported stronger-than-expected third-quarter results, with assets under management (AUM) reaching a record level due to robust market performance and solid net inflows [1] Financial Performance - Earnings per share for the quarter were $11.55, exceeding Wall Street's consensus estimate of $11.31 [2] - Revenue increased by 25% year-over-year to $6.51 billion, surpassing expectations of $6.29 billion [2] - Adjusted operating income rose 23% to $2.61 billion [3] Assets Under Management - AUM reached a record $13.46 trillion, supported by $205 billion in net inflows [3] - iShares ETFs achieved an all-time high in quarterly inflows, contributing to a 10% annualized organic base fee growth [3] Growth Drivers - The increase in revenue was driven by market appreciation, performance fees from GIP and HPS transactions, and growth in technology and subscription-based income [2] - CEO Laurence Fink highlighted multiple sources of growth, including strength in ETFs, private markets, and digital asset initiatives [4] - The firm's technology and data analytics expansion is driving significant fundraising and deal flow [4] Client Demand - There is growing client demand for deeper, more dynamic partnerships across public and private assets, validating the firm's strategic approach [4]