On October 14th, BlackRock Inc. (NYSE: BLK) revealed its third-quarter 2025 earnings, showcasing impressive figures despite a decline in net profit compared to last year. The asset management giant reported adjusted earnings per share (EPS) of $11.55, surpassing analyst expectations of $11.31, while total revenue soared by 25.2% year-over-year to $6.5 billion.
BlackRock’s net earnings stood at $1.323 billion, or $8.43 per share, down from $1.631 billion or $10.90 per share the previous year. However, the adjusted profit reflects a robust performance, indicating the firm’s resilience in a competitive market.
The company’s assets under management (AUM) reached a remarkable $13.5 trillion, driven by a substantial $205 billion in net inflows during the quarter, primarily led by the growth of exchange-traded funds (ETFs) and private assets. CEO Larry Fink expressed optimism about the upcoming quarter, emphasizing that BlackRock is poised for strong performance with growing investor confidence.
In terms of inflows, BlackRock reported $205 billion, easily surpassing Bloomberg’s analyst estimates of $161.6 billion. Long-term investment fund inflows alone accounted for $171 billion, showcasing robust demand across various investment vehicles.
The firm’s ETFs surpassed $5 trillion in assets for the first time, solidifying their position as a dominant force in the passive investment landscape. Additionally, cash management and money-market funds added $34 billion, bringing the total in that segment to $1 trillion.
Fink highlighted the scale of opportunities ahead, suggesting that the potential for growth far exceeds what the firm has previously experienced. This sentiment is reflected in the firm’s strategic focus on alternative assets, particularly following its recent $12 billion acquisition of HPS Investment Partners, which added $165 billion in client assets and strengthened BlackRock’s presence in private credit.
BlackRock’s alternatives business now manages $663 billion, with ambitions to raise an additional $400 billion by 2030. Performance fees surged by 33% to $516 million, driven by strong results in private markets. This growth trajectory follows earlier acquisitions, positioning the firm as a leader in alternative asset management.
Despite experiencing a dip in quarterly GAAP profit, BlackRock’s expanding AUM, increasing fee base, and strategic acquisitions underscore its long-term strength. The company’s stock closed at $1,155.12, reflecting a 2.01% increase, even as it slightly dipped by 0.56% in pre-market trading.
Year-to-date, BlackRock shares have appreciated by 14.44%, outperforming the S&P 500’s 13% return. Over the past year, the stock has gained 19.05%, and its three-year return stands impressively at 119.82%, well above the benchmark’s 81.33%.
As BlackRock enters the fourth quarter with strong inflows and momentum across key business lines, it appears well-positioned to maintain its global leadership in asset management.
