BlackRock (NYSE:BLK) shares rose more than 3% on Friday after the company reported strong third-quarter results, beating Street expectations in both earnings and total assets under management (AUM). The asset management giant posted earnings per share of $11.46, outpacing estimates of $10.24, while revenue climbed to $5.2 billion, above the projected $5.05 billion.

The firm's AUM rose to $11.48 trillion, a 26% increase year-over-year, surpassing the expected $11.19 trillion. BlackRock also recorded strong quarterly net inflows of $221.18 billion, a sharp rise from $2.57 billion a year prior and far exceeding estimates of $127.2 billion. Year-to-date inflows reached $360 billion, already surpassing the inflows from 2022 and 2023 combined, underscoring the firm’s solid performance across diverse investment sectors.

Additionally, BlackRock's adjusted operating margin improved to 45.8%, above the prior year’s 42.3% and exceeding the estimated 44.1%, indicating effective cost management amid growing scale.