BlackRock reports rise in EPS
Investment management giant BlackRock announced on Tuesday that its earnings per share (EPS) in the third quarter amounted to an adjusted $5.14, marking a quarter on quarter increase of 8%.
The GAAP diluted EPS was reported at $5.26. The figure is an 11% rise compared to the April to June period.
BlackRock reported revenue of $2.84 billion, which is a 3% decline compared to the same quarter in 2015, but a 1% increase compared to the previous quarter.
The company’s operating income on a GAAP basis stood at $1.21 billion, rising 3% from the second quarter. Meanwhile, BlackRock’s net income increased by 11% to $875 million.
“In the third quarter, even as investor preferences continued to migrate from equity to fixed income and cash, and away from active strategies, the diversity of our platform drove nearly $70 billion of total net inflows. Our $55 billion of long-term net inflows were positive across both active and index strategies, and positive across every asset class and region,” Laurence D. Fink, chairman and CEO of the firm said.