BlackRock reported record assets under management of $15.49 trillion at the end of the third quarter, after $205 billion in net client inflows, according to its earnings release filed with the SEC on Oct. 14. GAAP earnings were $10.57 per share and as-adjusted earnings were $15.93, while revenue rose 19% to $7.75 billion and net inflows into its iShares ETFs reached about $135 billion. The company also repurchased $550 million of its shares and raised $68 billion in private markets over the past twelve months. Net inflows into its private credit funds rose $5 billion from the previous quarter, and redemption requests at its Corporate Lending Fund eased to about 11.5% of shares from 13.3%, though Moody's warned that risks could be worse than reported default rates suggest. BlackRock shares rose as much as 5% after the results but gave back those gains as the session progressed.
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BlackRock ended the third quarter with a record $15.49 trillion in assets under management after $205 billion of net client inflows. GAAP earnings were $10.57 per share, adjusted earnings were $15.93, and revenue rose 19% to $7.75 billion. Its iShares ETFs drew about $135 billion in net new flows, and the company repurchased $550 million of shares. Net inflows into its private credit funds rose $5 billion from the prior quarter, and redemption requests for its Corporate Lending Fund eased to about 11.5% of shares, though Moody's warned of mounting risks among weaker middle-market borrowers.
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