BlackRock Inc. announced on Friday that its revenue in the third quarter of fiscal 2024 stood at $5.2 billion, rising by 15% year-on-year.
The GAAP diluted earnings per share in the reported quarter rose by 2% compared to the same quarter in the previous fiscal year to stand at $10.90. Net income amounted to $1.6 billion, increasing by 2% on an annual basis, while the operating income climbed by 23% annually to reach $2 billion. Assets under management (AUM) stood at $11.5 trillion.
"We are effectively leveraging our technology, scale, and global footprint to deliver profitable growth. Quarterly revenue and [adjusted] operating income both set new records, up 15% and 26% year-over-year, respectively. Our 45.8% operating margin is up 350 basis points," Chairman and CEO Laurence Fink stated.
BlackRock's shares gained 0.46% in the premarket hours after the earnings report's release.
