BlackRock reported a sharp profit increase in the third quarter, with earnings rising to $1.66 billion ($10.57 per share), up from $1.32 billion ($8.43 per share) a year earlier. Assets under management grew to $15.49 trillion from $13.46 trillion a year ago. Shares gained 3.1% in premarket trading. The strong performance was driven by resilient U.S. markets, with the S&P 500 near all-time highs supported by a rally in AI-focused stocks. However, rising bond yields and the Federal Reserve’s rate hikes raise questions about whether the rally can be sustained.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
