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Rating:BlackRock's iShares Captured $10.8B in Q3 Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 19, 2011

BlackRock's iShares Captured $10.8B in Q3

News summary by MFWire's editors

The equity markets tumbled last quarter, but that didn't stop iShares [see profile] from reeling in new dough across different asset classes. Today New York-based BlackRock [see profile] revealed in its third quarter earnings report that its exchange-traded mutual fund business brought in $10.8 billion in net inflows in the quarter ended September 30, including $7.2 billion into fixed income ETFs, $2 billion into equities and $1.5 billion into alternatives.

Despite the flows into iShares, BlackRock overall suffered $10.2 billion of net outflows, despite the flows into iShares. It brought in $4.7 billion net from equity and multi-asset products, while $14.0 billion net walked from its fixed income side. The S&P 500 equity index dipped 14.33 percent in Q3 and the Lehman Aggregate bond index climbed about three percent.

BlackRock earned a diluted $2.83 per share for the third quarter, down six percent from Q2 but up three percent year-over-year. That, according to Thomson Reuters' poll, beat the average analyst expectation of $2.67, a difference of almost six percent.

Bloomberg, Business Insider, MarketWatch, the New York Times, the Street, Wall St. Cheat Sheet and the Wall Street Journal all covered BlackRock's earnings. Business Insider and the Street focused on BlackRock beating earnings estimates. Bloomberg, MarketWatch and Wall St. Cheat Sheet stressed that BlackRock's earnings rose year-over-year, while the Times countered that earnings fell from last quarter. MarketWatch and the Wall Street Journal both highlighted the market-driven decline in BlackRock's assets under management. 

Edited by: Neil Anderson, Managing Editor

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