BlackRock Q4 Results Beat Market, AUM Climbs, Sees Growth Ahead; Stock Up In Pre-market - Update

(RTTNews) - Shares of Blackrock Inc. (BLK) were gaining around 4 percent in pre-market activity on the NYSE after the asset manager reported Wednesday higher fourth-quarter earnings and revenues, both above the market estimates.

Looking ahead, Laurence Fink, Chairman and CEO, said, "BlackRock enters 2025 with more growth and upside potential than ever. This is just the beginning."

For the quarter, net income attributable to the company grew 21 percent to $1.67 billion from last year's $1.38 billion. Earnings per share were $10.63, up 16 percent from $9.15 a year ago.

Adjusted net income was $1.87 billion, compared to prior year's $1.45 billion. Adjusted earnings per share were $11.93, compared to last year's $9.66.

The Wall Street analysts, on average, expected the company to report earnings of $11.22 per share. Analysts' estimates typically exclude special items.

Adjusted operating income climbed 36 percent year-over-year to $2.34 billion from $1.72 billion a year ago.

Revenue for the quarter grew 23 percent to $5.68 billion from prior year's $4.63 billion. The Street was looking for revenues of $5.58 billion for the quarter.

Assets under management grew 15 percent to $11.55 trillion from last year's $10.01 trillion.

In pre-market activity on the NYSE, BlackRock shares were trading at $998.00, up 3.62 percent.

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