Blackrock beats analysts' forecasts despite outflows in Asia Pacific
Updated : 12:48
US asset manager Blackrock registered a small decline in profitability despite top line growth in the three months to 30 September.
Company chief Laurence Fink highlighted the firm’s risk management and returns performance despite the challenging “market conditions,” which drove net inflows of $50bn.
Long-term net inflows of $25.5bn and $17bn in the Americas and EMEA regions, respectively, were partially offset by net outflows of $7.5bn from clients in Asia-Pacific.
The company registered a 4% decline in adjusted earnings per share in the third quarter to reach $5.
That was better than the $4.53 which analysts had pencilled in.
Top line growth printed at 2% to reach $2.91bn.