BLK
BlackRock Inc
Q4 2024 Report
BlackRock Inc (BLK) Q4 2024 Financial Results: Impressive Growth Amid Strategic Transitions...
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Executive Summary
BlackRock Inc reported exceptional financial performance for the third quarter of 2024, achieving a record $221 billion in net inflows, the highest in the company’s history. This robust growth was driven largely by increased client sentiment, a diversified product offering, and strategic focus on high-growth areas such as private markets and technology. Revenue surged to $5.4 billion, up 15% year-over-year, while operating income increased by 26% to $2.1 billion, reflecting strong operating leverage and improved efficiency. Because of these factors, BlackRock expects continued momentum into the fourth quarter, traditionally its strongest period for client inflows.
Key Performance Indicators
Revenue
5.37B
QoQ: 8.00% | YoY:24.66%
Gross Profit
4.41B
82.10% margin
QoQ: 11.11% | YoY:108.31%
Operating Income
2.18B
QoQ: 11.15% | YoY:43.12%
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:** $5.4 billion, up 15% YoY, driven by strong organic base fee growth of 5%.
- **Net Income:** $1.631 billion, resulting in an EPS of $11.02, a 5% increase YoY.
- **Operating Margin:** Remained robust at 45.8%, up 350 basis points from the previous year, showcasing effective cost management.
- **Assets Under Management (AUM):** Ended the quarter at $11.5 trillion, with a 26% increase over the past year.
- **Net Inflows:** $221 billion, marking an 8% annualized organic growth rate.