Summary by Moomoo AI
BlackRock reported strong Q3 2024 results, with revenue rising 15% year-over-year to $5.2 billion and assets under management (AUM) reaching $11.5 trillion. Operating income increased 23% to $2.0 billion, while diluted EPS grew 2% to $10.90. The firm saw net inflows of $221 billion, driven by $97 billion into ETFs.Performance fees surged to $388 million, up from $70 million last year, primarily due to strong returns from a single hedge fund. Base fees rose 9% to $4.0 billion on higher average AUM. BlackRock's technology services revenue remained stable at $403 million.The company maintained a strong capital position, with $13.9 billion in available liquidity. It repurchased $1.2 billion of shares and paid $2.3 billion in dividends during the first nine months of 2024. BlackRock also issued $5.5 billion in new long-term debt to help fund its acquisitions of Global Infrastructure Partners and Preqin.