BlackRock Reports its Q3 2021 results; Revenue up 16% YOY

Blackrock reported its third quarter earnings for the year 2021 before the market opened. They reported earnings of $10.95 per share, beating the Zacks Consensus Estimate of $9.54 per share; Compared to $9.22 per share a year ago.

This quarterly report represents an earnings surprise of 14.78%. A quarter ago, it was expected that this investment firm would post earnings of $9.33 per share when it produced earnings of $10.03, delivering a surprise of 7.50%.

Over the last four quarters, Balcrock has surpassed consensus EPS estimates four times.

BlackRock also posted revenues of $5.05 billion for the quarter ending September 2021, surpassing the Zacks Consensus Estimate by 0.81%; Compared to $4.37 billion a year-ago.

Key Highlights

  • $98 billion of long-term net inflows driven by continued momentum in ETFs and active strategies, with total net inflows of $75 billion reflecting outflows from low-fee cash management and advisory AUM.
  • 16% increase in revenue year-over-year reflects strong organic growth and 13% growth in technology services revenue, despite lower performance fees.
  • 10% increase in operating income (11% as adjusted) year-over-year also includes the impact of higher transaction related expense and fund launch costs in the current quarter.
  • 23% increase in diluted EPS (19% as adjusted) year-over-year reflects higher non operating income, including non cash gains from strategic minority investments in the current quarter.
  • Consistent capital management with $300 million of quarterly share repurchases.
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