BlackRock, the largest asset manager in the world, reported better-than-expected earnings for the third quarter on Tuesday, but its revenue disappointed Wall Street.
Here is how the asset-management giant's results fared compared to analyst expectations:
- Earnings: $7.52 per share vs $6.84 expected by Refinitiv
- Revenue: $3.576 billion vs $3.648 billion forecast
- Assets under management: $6.444 trillion vs $6.498 trillion expected by StreetAccount
- Advisory, administration and lending revenue: $2.88 billion vs $2.97 billion expected
The company's assets under management totaled $6.299 trillion at the end of the second quarter.
BlackRock shares are down sharply this year, falling more than 16 percent in 2018 through Monday's close. Meanwhile, the S&P 500 is up nearly 3 percent year to date.
The report comes after BlackRock completed in late September the acquisition of Citibanamex's asset management business, which has about $34 billion in assets.
This is breaking news. Please check back for updates.
—BlackRock CEO Larry Fink is scheduled to appear on CNBC's "Squawk Box" Tuesday after the results are released.
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