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The amount of assets being managed by BlackRock grew by 26% to reach a new high of $11.48 trillion, due to both a rise in financial markets and an increase in client investments.
As per the company's official statement, BlackRock funds received a total of $221 million in net inflows in the last quarter, setting a new record. On average, experts surveyed by FactSet forecasted this amount to be $160bn.
The company announced earnings of $1.63 billion, or $10.9 per share, for the July-September 2024 quarter, up from $1.6 billion, or $10.66 per share, in the same period last year. The analysts' average prediction for the amount was $9.98 per share.
BlackRock's revenue for the quarter increased to $5.2bn, setting a new record compared to $4.52bn the previous year, in line with experts' $5bn prediction.
From the start of 2024, there has been a 17.7% increase in BlackRock's capitalisation.
source: bloomberg.com
As per the company's official statement, BlackRock funds received a total of $221 million in net inflows in the last quarter, setting a new record. On average, experts surveyed by FactSet forecasted this amount to be $160bn.
The company announced earnings of $1.63 billion, or $10.9 per share, for the July-September 2024 quarter, up from $1.6 billion, or $10.66 per share, in the same period last year. The analysts' average prediction for the amount was $9.98 per share.
BlackRock's revenue for the quarter increased to $5.2bn, setting a new record compared to $4.52bn the previous year, in line with experts' $5bn prediction.
From the start of 2024, there has been a 17.7% increase in BlackRock's capitalisation.
source: bloomberg.com
