Blackrock Inc. (NYSE: BLK), the world’s largest asset manager, reported its third quarter earnings for the 2017 fiscal year 2017 fiscal year and beat all estimates in both earnings and revenue. Blackrock shares were trading 0.5 percent above in premarket on Thursday.
Blackrock reported revenue of $3.2 billion, beating estimates of $3.1 billion, and a 14 percent increase from $2.8 billion year over year. The company reported an EPS of $5.92 per share, beating Thomson Reuters consensus of $5.56, and a 15 percent increase from $5.14 year over year.
Blackrock’s total assets climbed to $5.97 trillion, also beating StreetAccount’s estimates of $5.94 trillion. The company also reported total net inflows of $96 billion, beating estimates of $71.62 billion. The company also reported a consistent capital management with $275 million of quarterly share repurchases.
The company reported iShares’ third quarter net inflows of $52 billion along both core and non-core strategies. In the third quarter, Blackrock was the number 1 market share of ETF flows globally, in both the U.S. and Europe, as well as equity and fixed income. iShare assets totaled $1.64 trillion, representing 27.4 percent of the total assets.
Retail assets totalled $843 million after the third quarter, representing 10 percent of Blackrock’s total assets.
“BlackRock’s third quarter results reflect the continued growth of our global investment and technology platform and the trusted relationships we have built with our clients,” commented Laurence D. Fink, Chairman and CEO of BlackRock.
“Our ability to create investment solutions from a broad range of products – spanning index to illiquid alternatives – combined with industry leading technology and risk management, is resonating with clients and driving more impactful interactions than ever before,” Fink said.