American asset manager BlackRock has posted an attributable net income of $1.12bn for the third quarter of 2019.

This is an 8% decrease from last year’s figure of $1.21bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

However, total revenue reported growth, increasing 3% from $3.57bn to $3.69bn.

Notably, the firm’s technology services revenue surged 30% to $259m from $200m.

The rise was attributed to the growth in the firm’s risk management platform Aladdin and the purchase of French investment software provider eFront.

Operating income on an adjusted basis for the quarter ended 30 September 2019 was $1.5bn, versus $1.4bn in the previous year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The group’s assets under management (AuM) totalled $6.96 trillion at the end of September 2019, as against $6.44 trillion a year ago. Net inflows in the third quarter were $84.24bn.

BlackRock chairman and CEO Laurence Fink said: “Clients have entrusted BlackRock to manage almost $350 billion in new assets over the last twelve months, validating the differentiation of our model.

“BlackRock’s globally integrated platform, bringing together cash, index, factors, active and alternatives with Aladdin’s portfolio and risk management technology, is better positioned than ever before to provide solutions to clients.

“BlackRock generated $84 billion of total net inflows in the third quarter, demonstrating 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.”