BlackRock Reports Stronger-Than-Expected Earnings and Revenue in Q3
BlackRock (BLK) reported better-than-expected earnings for its third quarter on Wednesday. The asset manager's adjusted EPS came to $15.93, surpassing Wall Street forecasts. This was driven by strong performance fees and growth in technology revenue. Despite this positive financial result, long-term net inflows fell short of expectations. The company’s stock rose 3.7% during premarket trading following the earnings report, reflecting investor confidence in its robust financial results despite weaker-than-expected asset flows.
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