BlackRock reports Q4 earnings beat, assets under management hit $11.55 trillion

Investing.com -- BlackRock, Inc. reported fourth-quarter 2024 adjusted earnings per share of $11.93, surpassing analyst estimates of $11.46. The asset management giant also beat revenue expectations, posting $5.68 billion compared to the consensus estimate of $5.59 billion.

The company's assets under management (AUM) reached $11.55 trillion, marking a 15% increase year-over-year, though slightly below the estimated $11.66 trillion. BlackRock (NYSE:BLK ) reported record net inflows of $281 billion for the fourth quarter, contributing to a full-year record of $641 billion in net inflows.

Revenue for the full year 2024 increased by 14%, driven by the positive impact of markets on average AUM, organic base fee growth, and fees on AUM acquired in the GIP Transaction (JO:TCPJ ). The company also saw higher performance fees and technology service revenue.

BlackRock's Chairman and CEO, Laurence Fink, stated, "Clients entrusted BlackRock with a record $641 billion of net inflows in 2024, including $281 billion in the fourth quarter for two consecutive record flows quarters."

The company's adjusted operating income grew by 23% for the full year, with an industry-leading margin of 44.5%, up 280 basis points from the previous year.

Following the earnings release, BlackRock's stock rose 1.75% in premarket trading.

The asset manager also highlighted its strategic acquisitions, including the closing of GIP and planned acquisitions of HPS Investment Partners and Preqin, which are expected to enhance its private markets investment and data capabilities.

Source: Investing.com