However, higher expenses, primarily from marketing and other product investments, are likely to dampen results slightly. The financial sector has been pressured by a slowdown in the economy as well as the trade war.
In the third quarter, BlackRock topped earnings estimates but missed on revenues. Revenues rose 2% year-over-year to $3.5 billion while adjusted EPS grew 27% to $7.52. AUM increased 8% to $6.4 trillion.
BlackRock’s peers JPMorgan Chase and Citigroup are also reporting their results this week. On Monday, Citigroup reported better-than-expected fourth-quarter earnings but missed on revenues. JPMorgan will report fourth-quarter results on Tuesday. As of 3:00 pm ET, BlackRock’s stock was down 0.8%.