BlackRock (BLK) reported Q3 EPS of $9.55, $1.90 better than the analyst estimate of $7.65. Revenue for the quarter came in at $4.31 billion versus the consensus estimate of $4.35 billion.
Laurence D. Fink, Chairman and CEO: “We built BlackRock to meet our clients’ needs across all market environments. The diversity of our solutions provides clients with more choice to address their unique priorities across products, styles, and exposures. The power of our diversified platform is most evident in times of uncertainty, and clients are turning to us more than ever for our comprehensive and integrated solutions. Our wide range of investment offerings, leading technology platform, whole portfolio approach and global insights are resonating deeply as clients seek partners to help them build stronger, more resilient portfolios that meet their long-term investment goals. “BlackRock generated industry-leading long-term net inflows of $248 billion in the first nine months of 2022, including $65 billion in the third quarter. We once again saw strong growth in bond ETFs, with $37 billion of net inflows. Active strategies reflected momentum from significant outsourcing mandates and continued demand for alternatives, where we raised $6 billion across commitments and net inflows. We had record Aladdin client mandates in the first nine months of 2022, with over half coming from multi-product solutions. “We continue to evolve our organization, think comprehensively about our clients’ portfolios and innovate ahead of their needs, all of which is deepening connectivity across our platform. We are uniquely positioned to serve our clients’ needs with integrated investment management, technology and advisory expertise. And we are relentlessly committed to bringing together the best of BlackRock in order to deliver better outcomes that will benefit our clients, employees and shareholders.”