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BlackRock posts 8% YOY increase in Q3 AUM

BlackRock Inc. reported third-quarter net income attributable to the company of $1.12 billion, or $7.15 per share, a decrease from $1.22 billion, or $7.54 per share, in the year-ago period.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was $6.91.

The company reported total revenues of $3.69 billion, up from $3.58 billion in the same period last year. Analysts polled by S&P Global Market Intelligence estimated third-quarter revenues of $3.69 billion. Investment advisory, administration fees and securities lending revenue increased on a year-over-year basis to $2.98 billion from $2.88 billion.

Total expenses slightly increased to $2.19 billion from $2.18 billion. BlackRock reported total non-operating expenses of $42 million in the third quarter, compared with total non-operating income of $33 million in the year-ago period.

BlackRock reported total assets under management of $6.964 trillion as of Sept. 30, an increase from $6.444 trillion in the year-ago period. Total net inflows for the quarter were $84.25 billion, compared with outflows of $3.11 billion in the third quarter of 2018. Chairman and CEO Laurence Fink said the net inflows demonstrated "strength in fixed income, cash and alternative strategies, as clients re-balanced, de-risked and sought uncorrelated sources of return in the face of significant global market volatility."