Third-quarter revenue rose 25% annually to $6.51 billion, mainly reflecting the positive impact of markets, organic base fee growth over the last twelve months, and higher technology services and subscription revenue. Assets under management reached a new high of $13.5 trillion in the third quarter, up 17% year-over-year.
On an adjusted basis, BlackRock’s Q3 earnings edged up 1% to $11.55 per share. Unadjusted net income declined to $1.32 billion or $8.43 per share in the September quarter from $1.63 billion or $10.90 per share in the prior-year quarter.
Laurence Fink, BlackRock’s CEO, said, “BlackRock is always preparing for the future, investing ahead of client needs and in support of deepening capital markets. Technology and data analytics, ETFs, private markets, and digital assets are just a few examples where we invested and built leading positions.”
