Investment firm BlackRock opened its books today and significantly exceeded expectations.
BlackRock Inc. is an internationally active US investment company based in New York City. With $9.5 trillion in assets under management, BlackRock is the world’s largest asset manager.
In the third quarter, BlackRock saw net income rise a whopping 24 percent to $1.68 billion. To that end, earnings per share rose from $8.87 to $10.89. On an adjusted basis, the company reported $10.95 per share – up from $9.22 a year ago. This was well above expectations of $9.39. BlackRock also surprised on the upside with a 16 percent increase in revenue to $5.05 billion – experts had expected $4.82 billion.
All in all, a strong result for Q3 and a clear signal for investors.
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