Investing.com -- BlackRock (NYSE: NYSE:BLK) reported financial results and total assets under management (AUM) above analyst expectations for the fiscal third quarter. The company’s shares rose 1% in premarket trading Friday.
Specifically, the world’s biggest asset manager posted earnings per share (EPS) of $11.46, topping analyst expectations of $10.24. Revenue for the quarter reached $5.2 billion, surpassing the consensus estimate of $5.05 billion.
The firm’s assets under management (AUM) totaled $11.48 trillion, marking a 26% increase year-over-year, ahead of the $11.19 trillion estimate.
Net inflows for the quarter stood at $221.18 billion, significantly higher than the $2.57 billion recorded a year ago and well above the estimated $127.2 billion. Year-to-date net inflows reached $360 billion, exceeding the total net inflows for both 2022 and 2023, reflecting strong performance across BlackRock’s broad-based platform.
The adjusted operating margin improved to 45.8%, compared to 42.3% in the same period last year, and above the estimated 44.1%.
This content was originally published on Investing.com
