Summary by Moomoo AI
BlackRock reported strong Q3 2024 results with diluted EPS of $10.90, or $11.46 as adjusted. The company saw record quarterly total net inflows of $221 billion, representing 8% annualized organic asset growth. Assets under management reached a new high of $11.5 trillion, up $2.4 trillion year-over-year.Revenue increased 15% year-over-year to $5.2 billion, driven by positive market impacts on average AUM, organic base fee growth, and higher performance fees. Operating income rose 23% (26% as adjusted) to $2 billion. The operating margin expanded to 45.8% on an adjusted basis, up 350 basis points year-over-year.BlackRock closed its acquisition of Global Infrastructure Partners on October 1st, adding $116 billion in client AUM. The company continues to evolve its private markets capabilities and sees opportunities in infrastructure to support AI innovation. BlackRock repurchased $375 million of shares in Q3 and remains focused on driving growth for clients, shareholders and employees.
