10/13/2021, 12:16 PM (Source: TeleTrader)
more TeleTrader news

BlackRock's revenue up by 16% to $5.05B in Q3

BlackRock Inc. revealed on Wednesday that its revenue for the third quarter of fiscal 2021 stood at $5.05 billion, 16% higher than for the same period a year ago.

The company also reported that its net income in the third trimester totaled $1.68 billion, rising by 23% year-on-year, while its diluted earnings per share soared 23% on an annual basis to reach $10.89. Meanwhile, operating income for the period ending September 30, 2021, increased by 10% year-over-year to $1.93 billion and assets under management (AUM) grew 21% to reach $9.46 trillion.

"BlackRock generated $98 billion of long-term net inflows in the third quarter, representing 9% annualized organic base fee growth and our 6th consecutive quarter in excess of our 5% target, once again demonstrating the strength of our diversified investment and technology platform," CEO Laurence Fink said in a press release.

Baha Breaking the News (BBN) / IB