BlackRock Q3 Profits Beat Estimates But Net Inflows Plummet as Assets Dip Slightly

BlackRock's Q3 profits beat estimates but net inflows dropped sharply to $2.57B from $16.9B last year.

Assets under management rose to $9.10T from $7.96T a year ago, but dipped from Q2 2022's $9.4T.

CEO Larry Fink said clients are earning cash returns and waiting for more certainty before re-risking.

BlackRock is engaged in more M&A talks than in many years, hinting at a major acquisition.

Revenue rose nearly 5% to $4.52B driven by organic growth, market movements, and higher tech services revenue.