BlackRock Inc
0QZZ.L
$1 163.97 1.13%
Exchange: LSE | Sector: Financial Services | Industry: Financial Diversified
Q3 2024
Published: Nov 6, 2024

Earnings Highlights

  • Revenue of $5.37B up 18.8% year-over-year
  • EPS of $10.90 increased by 2.5% from previous year
  • Gross margin of 82.1%
  • Net income of 1.63B
  • ""Our commitment to innovation and sustainable investing has yielded robust inflows and client engagement this quarter, reaffirming our market leadership."" - Larry Fink, CEO

BlackRock Inc (0QZZ.L) Q3 2024 Results: Strong Revenue Growth Amid Market Challenges

Executive Summary

In Q3 2024, BlackRock Inc reported impressive results, achieving a revenue of $5.37 billion, which equates to an 18.84% increase year-on-year (YoY) and an 11.84% increase quarter-on-quarter (QoQ). The firmÒ€ℒs net income rose to $1.63 billion, showcasing a strong net income margin of 30.35%. These results came despite ongoing market headwinds and regulatory pressures, highlighting BlackRock's resilience and adaptability within the financial services sector. Management indicated continued confidence in the business model, emphasizing growth in investment management fees and increased demand for sustainable investments. The firmÒ€ℒs diversified portfolio, along with strategic focus on technology and risk management, positions BlackRock well for future growth amidst a shifting economic landscape.

Key Performance Indicators

Revenue

5.37B
QoQ: 11.84% | YoY:18.84%

Gross Profit

4.41B
82.10% margin
QoQ: 35.21% | YoY:101.09%

Operating Income

2.18B
QoQ: 21.33% | YoY:33.41%

Net Income

1.63B
QoQ: 9.10% | YoY:1.68%

EPS

11.02
QoQ: 9.43% | YoY:2.51%

Revenue Trend

Margin Analysis

Key Insights

  • **Revenue:** $5.37 billion (YoY: +18.84%, QoQ: +11.84%)
  • **Gross Profit:** $4.41 billion (YoY: +101.09%, QoQ: +35.21%)
  • **Operating Income:** $2.18 billion (YoY: +33.41%, QoQ: +21.33%)
  • **Net Income:** $1.63 billion (YoY: +1.68%, QoQ: +9.10%)
  • **EPS:** $11.02 (YoY: +2.51%, QoQ: +9.43%)

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 5,423.00 10.19 +12.9% View
Q1 2025 5,276.00 9.64 +7.7% View
Q4 2024 5,677.00 10.64 +16.0% View
Q3 2024 5,374.00 10.90 +18.8% View
Q2 2024 4,805.00 9.99 +7.7% View