BlackRock (BLK) Pops Amid Financial Results For The Third Quarter

Today, BlackRock Incorporation made an announcement about the release of the financial results for the third quarter. The revenue increased than was expected before. Additionally, it was announced that assets have gained more than 20% under the management.

The net income increased to $1.68 billion or $10.89 for every share. Adjusted earnings a share totaled $10.95 which is much higher than was expected as $9.39 not taking into count nonrecurring items.

According to the results, revenue increased by more than 15.6% and reached 15.6% which also beat the expectations of $4.82 billion. Average assets jumped about 24.8% to $9.58 billion under the management. The company has produced approximately  $98 billion of long-term net inflows during the last quarter which demonstrates approximately  9%  of the organic base fee rise.  Also, it was announced that the Chairman and CEO of the company, Laurence D. Fink, President, Robert S. Kapito, and CFO will hold the conference.