BlackRock net incomes rose 27% to $1.42 billion or $9.22 per share in Q3, up from $1.12 billion or $7.15 per share last year due to strong flows, according to Reuters. Earnings per share higher than analysts’ expected $7.80 while assets reached record $7.81 trillion. Rise in inflows driven by clients in Europe and Asia.
- Company’s net inflows were $129 billion compared to $100 billion in the previous quarter.
- BlackRock strategic investments in iShares ETFs, alternatives, and technology are growing while strong investment performance is driving positive active flows over the last year-Larry Fink, CEO
- BlackRock’s shares were up 22% this year, relative to 3% drop of industry rivals’ index.
BlackRock’s shares were up 3.8% on Tuesday morning trading. BLK: NYSE is up 4.16%