10:57 - 14.10.2024
October 14, Fineko/abc.az. American investment company BlackRock Inc., the world's largest in terms of assets under management, increased its net profit in the 3rd quarter by 2% and revenue by 15%.
The volume of assets under management by BlackRock increased by 26%, reaching a record $11.48 trillion, due to the rise of financial markets, as well as the influx of client funds.
According to BlackRock, the net inflow of funds into company's funds in the last quarter amounted to $221 million, which is also a record. Experts surveyed by FactSet, on average, predicted this figure at $160 billion.
Company's net income in July-September 2024 amounted to $1.63 billion, or $10.9 per share, compared with $1.6 billion, or $10.66 per share, in the same period of the previous year. Analysts' consensus forecast for this indicator was $9.98 per share.
BlackRock's quarterly revenue grew to a record $5.2 billion from $4.52 billion a year ago, with an average expert forecast of $5 billion.
Since the beginning of 2024, BlackRock's capitalization has grown by 17.7%.
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