Shares of BlackRock Inc. (BLK) observed an approximate 4% increase in pre-market trading on the NYSE, following the company's disclosure of higher earnings and revenues for the fourth quarter, surpassing market forecasts.
Anticipating the future, Chairman and CEO Laurence Fink stated, "BlackRock is entering 2025 with more growth and potential than ever before. This is merely the beginning."
During this quarter, the company's net income surged by 21% to $1.67 billion, up from $1.38 billion the previous year. Earnings per share saw a 16% rise, reaching $10.63 compared to $9.15 the previous year.
The adjusted net income amounted to $1.87 billion, surpassing the previous year's figure of $1.45 billion. Meanwhile, adjusted earnings per share increased to $11.93 from the prior year’s $9.66.
On average, Wall Street analysts had projected earnings of $11.22 per share, often excluding one-time items in their estimates.
The adjusted operating income experienced a 36% increase from the prior year, reaching $2.34 billion from $1.72 billion.
Quarterly revenue rose by 23% to $5.68 billion, compared to last year's $4.63 billion, exceeding analysts' expectations of $5.58 billion.
Assets under management grew by 15%, reaching $11.55 trillion from the previous year’s $10.01 trillion.
In pre-market trading on the NYSE, BlackRock's shares were listed at $998.00, marking a 3.62% gain.
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