Asset management behemoth BlackRock announced Q3 earnings increased by 15% to $US3.88 per share, which was right in line with expectations.
“The current investment environment presents a wide range of challenges for our clients,” said CEO Larry Fink.
“Fundamentals continue to be outweighed by policy decisions and global growth is dictated more by central bankers and elected officials than business leaders. This uncertainty is keeping many investors on the sidelines, at exactly the time they need to be investing to plan for their futures.”
Meanwhile, BlackRock’s assets under management hit a staggering $US4.096 trillion in Q3.
“While crossing the $US4 trillion asset threshold was another milestone in our growth story, it only encourages us to continue pursuing the many opportunities we have to grow in the future, as we deliver the full value of our diverse platform, solutions-oriented investment culture and leading risk management capabilities to our clients regardless of market conditions.”