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BlackRock's revenues grow 14% in Q3

BlackRock Inc. reported third-quarter net income attributable to the company of $947 million, or $5.78 per share, compared to $875 million, or $5.26 per share, in the year-ago quarter.

Adjusted net income attributable to the company for the most recent quarter increased to $969 million, or $5.92 per share, from $854 million, or $5.14 per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $5.57.

Revenue for the quarter totaled $3.23 billion, up 14% from $2.84 billion in the year-ago quarter. Investment advisory, administration fees and securities lending revenue increased year over year to $2.79 billion from $2.55 billion. Investment advisory performance fees jumped to $191 million in the third quarter from $58 million in the year-ago quarter.

The company saw $96.11 billion of total net inflows in the third quarter.

BlackRock's AUM totaled $5.977 trillion as of Sept. 30, compared to $5.689 trillion as of June 30 and $5.117 trillion as of Sept. 30, 2016.

The company made $275 million of share repurchases during the quarter.