BlackRock Reports Q3 EPS Beat, While Revenues Slightly Miss

BlackRock (NYSE: BLK) reported its Q3 results, with EPS of $9.55 coming in better than the Street estimate of $7.65. Revenue was $4.31 billion, compared to the Street estimate of $4.35 billion.

The company generated long-term net inflows of $248 billion in the first nine months of this year, including $65 billion in Q3.

According to Deutsche Bank analysts, Q3 flows were light, but organic growth should reaccelerate in Q4 and 2023. Following the results announcement, the analysts lowered their price target on the company’s shares to $642 from $648 while reiterating their buy rating.