BlackRock’s Q3 is epic, iShares ETFs made it raining money

Larry Fink and BlackRock just dropped their Q3 earnings like a mic, shattering expectations with a 25% revenue surge to $6.51 billion.

The secret sauce? A total $205 billion flooding in, mostly into iShares ETFs, black gold in the crypto rally era.

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Assets under management

This isn’t your usual Wall Street snooze fest though, adjusted earnings per share clocked in at $11.55, outpacing the analysts’ guess.

BlackRock’s organic fee growth flexed with a 10% annual boost, fueled by love for systematic active equity, outsourced mandates, and private markets. Over the past year, this growth still turned heads at 8%.

But there’s plot twist. Operating income took a slight dip, down 3% to $1.96 billion.

Adjusted operating income, though, jumped 23% to $2.62 billion, while adjusted net income nudged up 11% to $1.91 billion.

BlackRock’s assets under management skyrocketed 17% year-over-year, jumping from $11.47 trillion to a colossal $13.46 trillion. ETFs were the hero, scooping up $153 billion of the $205 billion inflows.

Retail interest

Retail investors weren’t shy, adding $10 billion, split $4 billion U.S., $6 billion global.

Institutional active picked up $22 billion, while institutional indexes kept bleeding $14 billion.

Cryptos pulled in a cool $17 billion, core equities $53 billion, and fixed income $41 billion. A mysterious $21 billion showed up under “precision and other.”

Inflows

Crypto’s humble share? $104 billion in assets, $61 million revenue. Currency and commodity strategies held $137 billion, adding $77 million.

Long-term strategies hauled in $4.73 billion, comprising 93% of flows, cash management chipped in $318 million.

Revenue for all business lines totaled $5.05 billion. BlackRock’s Q3 was a story of inflows, acquisitions, and ETFs riding the crypto wave to royal riches. Billions and millions.