BlackRock beat earnings expectations as technology services drive growth but profits drop 8%
BlackRock saw its total assets climb to about $7 trillion, up 8% year-over-year. In its third-quarter earnings, released Tuesday, the world's largest asset manager boasted growing revenues in the wake of a"volatile" global market, however, the firm's profits were down 8%. CEO Larry Fink said that clients have entrusted $350 million worth of new assets in the last year to the firm"technology services revenue." BlackRock said its total assets climbed over $6.
BlackRock saw its total assets climb to about $7 trillion, up 8% year-over-year. In its third-quarter earnings, released Tuesday, the world's largest asset manager boasted growing revenues in the wake of a"volatile" global market, however, the firm's profits were down 8%. CEO Larry Fink said that clients have entrusted $350 million worth of new assets in the last year to the firm"technology services revenue." BlackRock said its total assets climbed over $6.
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