BlackRock Inc (NYSE:BLK) on Tuesday reported a higher third quarter 2025 profit, boosted by better fee income and record assets under management (AUM) due to the global rally in equity markets.
The world’s largest asset manager recorded adjusted earnings for the quarter of $1.91 billion, or $11.55 per share, up from $1.72 billion, or $11.46 per share, during the same period last year.
BlackRock’s revenue for the period rose to $6.5 billion from $5.2 billion a year earlier.
Analysts on average were expecting earnings of $11.24 per share on revenue of $6.2 billion, according to Bloomberg.
The company’s assets under management (AUM) during the quarter, meanwhile, increased to $13.46 trillion from $11.48 trillion in Q3 2024.
“Top organic base fee growth contributors included our systematic franchise, private markets, digital assets, outsourcing, cash and iShares ETFs, which saw record demand,” BlackRock CEO Larry Fink said in a statement.
“We’re entering our seasonally strongest fourth quarter with building momentum and a fully unified platform, anchored by a public-private investment model, backed by Aladdin technology, and united by a shared culture of performance and client service.”
BlackRock shares rose 1.5% to $1172.51 in late-morning trading on Tuesday.