BlackRock’s third-quarter net inflows reached 205.466 billion dollars, led by long-term products, while assets under management rose to 15.488 trillion dollars. Revenue increased 19 per cent and net profit grew 25 per cent. The asset manager separately reported adjusted earnings that exclude a noncash valuation change connected with past acquisitions. Exchange-traded funds attracted approximately 135 billion dollars.
BlackRock, the asset manager, attracted approximately 205 billion dollars in net inflows in the third quarter.[1], [2]
The exact quarterly total was 205.466 billion dollars. Assets under management reached 15.488 trillion dollars at September 30, up 15 per cent from a year earlier. Long-term products received about 175 billion dollars and cash management about 31 billion dollars.[1]
Exchange-traded funds attracted approximately 135 billion dollars in net inflows, while active strategies received about 66 billion dollars. By product category, fixed income drew 78.213 billion dollars while equities also attracted inflows. Technology services and subscription revenue grew 14 per cent.[1]
Revenue increased 19 per cent to 7.752 billion dollars. Under generally accepted accounting principles, operating profit was 2.328 billion dollars and net income rose 25 per cent to 1.659 billion dollars. Adjusted operating profit increased 27 per cent to 3.330 billion dollars, with a margin of 47.8 per cent. The adjustments exclude a noncash fair-value change in contingent consideration from earlier acquisitions. BlackRock repurchased 550 million dollars of stock.[1]
