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BlackRock Beats Earnings Estimates, Records $84 Billion of Net Inflows

October 15, 2019

Via: TheStreet

BlackRock (BLK – Get Report) reported third-quarter earnings of $7.15 a share, beating estimates of $6.96, as the money manager reported $84 billion of quarterly net inflows, up from a year-earlier loss of $3.11 billion.

The company reported year-earlier adjusted earnings of $7.52 a share.

The stock was uo 0.44% in premarket trading Tuesday to $436.10.

Revenue in the period rose 3% to $3.69 billion “driven by higher base fees and technology services revenue, partially offset by lower performance fees,” BlackRock said in a statement. Assets under management in the quarter were more than $6.96 trillion.

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