Investment giant BlackRock Financial Company (BLK) reported better-than-expected Q3 financial results, with managed assets soaring to $11.48 trillion in the third quarter.

According to the financial report, BlackRock's third-quarter data exceeded expectations, showing significant year-over-year growth. The quarterly profit was $1.63 billion, a 15% increase year-over-year; total revenue was $5.2 billion, higher than the expected $5 billion, with a 26% year-over-year increase; earnings per share were $11.46, higher than the expected $10.42, with a 5% year-over-year increase. In addition, BlackRock conducted a $375 million share repurchase in the third quarter.

This month, BlackRock also completed the acquisition of Global Infrastructure Partners (GIP), adding $116 billion to the total managed assets and $70 billion to the total fee-earning assets. Chairman Laurence D. Fink stated that BlackRock is continuously developing the private equity market and sees significant investment potential in infrastructure, especially in supporting artificial intelligence innovation.

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Fink also indicated that BlackRock's strategy is very ambitious and is working effectively. In the third quarter, organic base fee growth and the annual contract value of technology services both reached their highest levels in many years, with positive growth across various customer types and product types.

On Friday, October 11, BlackRock released its Q3 financial report:

- Q3 revenue: $5.2 billion, higher than the expected $5 billion, with a 26% year-over-year increase;

- Q3 profit: $1.63 billion, a 15% increase year-over-year, benefiting from the positive impact of the total managed assets on the market, organic base fee growth, and higher performance fees;

- Q3 earnings per share: $11.46, higher than the expected $10.42, with a 5% year-over-year increase;

- Q3 total managed assets (AUM): $11.48 trillion, higher than the expected $11.19 trillion, mainly due to net inflows and positive market trends;

- Q3 net inflows: $221 billion, representing an 8% annual organic asset growth, with positive growth across various customer types and product types, and a total of $360 billion in net inflows year-to-date.Third-quarter stock buybacks: $375 million;

Third-quarter investment advisory, management fees, and securities lending revenue: $4.03 billion, higher than the $3.681 billion in the same period last year.

In October, BlackRock completed the acquisition of Global Infrastructure Partners (GIP), adding $116 billion in total assets under management and $70 billion in fee-earning assets under management.

BlackRock Chairman and CEO Laurence D. Fink said:

"Our strategy is very ambitious and is working. The assets we manage on behalf of our clients reached a new record of $11.48 trillion in the third quarter, an increase of $2.4 trillion over the past 12 months. During this period, clients entrusted BlackRock with $456 billion in net inflows, of which a record $221 billion was achieved in the third quarter alone. Third-quarter organic base fee growth of 5% and a 15% increase in annual contract value (ACV) of technology services both reached their highest levels in years.

Through various initiatives, we are developing our private markets to better serve our clients. We have seen the combined strength of BlackRock and GIP, as we see the great investment potential of infrastructure, especially in supporting artificial intelligence innovation."

After the release of the financial report, BlackRock's stock price rose by 3.37% during the trading day, reaching a historical high. This year, BlackRock's stock price has risen by 18%, while the S&P 500 index has risen by 21%. Over the past year, BlackRock's stock price has risen by 49%.