BlackRock's Q3 financial report exceeded expectations, with assets under management soaring to $11.5 trillion, and the stock price hitting a record high | Financial Report Insights

Investment giant BlackRock Financial (BLK) exceeded expectations in Q3 financial report, with managed assets soaring to $11.48 trillion.

According to the financial report, BlackRock's Q3 performance exceeded expectations across multiple metrics, showing significant year-on-year growth. Quarterly profit reached $1.63 billion, up 15% year-on-year; total revenue was $5.2 billion, surpassing the expected $5 billion and increasing by 26% year-on-year; earnings per share were $11.46, higher than the expected $10.42, with a 5% year-on-year growth. Additionally, BlackRock conducted a $375 million share repurchase in Q3.

This month, BlackRock also completed the acquisition of Global Infrastructure Partners (GIP), adding $116 billion in total managed assets and $70 billion in fee-paying managed assets. Chairman Laurence D. Fink stated that BlackRock is continuously expanding in the private markets, recognizing the significant investment potential in infrastructure, especially in supporting AI innovation.

Fink also mentioned that BlackRock's strategy is ambitious and effective. Q3 saw the highest organic base fee growth and annual contract value growth in technology services in years, with positive growth in client types, product types, and other aspects.

On Friday, October 11th, BlackRock released its Q3 financial report:

• Q3 Revenue: $5.2 billion, exceeding the expected $5 billion and increasing by 26% year-on-year;
• Q3 Profit: $1.63 billion, up 15% year-on-year, benefiting from the positive impact of total managed assets, organic base fee growth, and strong performance fees;
• Q3 Earnings Per Share: $11.46, higher than the expected $10.42, with a 5% year-on-year growth;
• Q3 Total Assets Under Management (AUM): $11.48 trillion, surpassing the expected $11.19 trillion, mainly driven by net inflows and positive market trends;
• Q3 Net Inflows: $221 billion, representing 8% annual organic asset growth, with positive growth in client types, product types, etc., totaling $360 billion in net inflows year-to-date;
• Q3 Share Repurchase: $375 million;
• Q3 Investment Advisory, Management Fees, and Securities Lending Revenue: $4.03 billion, higher than the $3.681 billion in the same period last year.

In October, BlackRock completed the acquisition of Global Infrastructure Partners (GIP), adding $116 billion in total managed assets and $70 billion in fee-paying managed assets. BlackRock Chairman and CEO Laurence D. Fink stated:

"Our strategy is very ambitious and is working. The assets we manage on behalf of clients reached a new record of $11.48 trillion in the third quarter, an increase of $2.4 trillion over the past 12 months. During this period, clients entrusted BlackRock with $456 billion in net inflows, of which a record $221 billion was achieved in just the third quarter. Organic base fees grew by 5% in the third quarter, and Annual Contract Value (ACV) for technology services increased by 15%, both reaching multi-year highs.

Through various initiatives, we are developing our private markets to better serve our clients. We have seen the power of the partnership between BlackRock and GIP as we see the huge investment potential in infrastructure, especially in supporting artificial intelligence innovation."

After the financial report was released, BlackRock rose 3.37% intraday, reaching a historic high. This year, BlackRock's stock price has risen by 18%, while the S&P 500 index has risen by 21%. Over the past year, BlackRock's stock price has increased by 49%.