##  [# BlackRock Beats Earnings Views Even as Net ETF Inflows Fall](/sections/news/blackrock-beats-earnings-views-even-net-etf-inflows-fall) 

 

# BlackRock Beats Earnings Views Even as Net ETF Inflows Fall

 

 

The firm has seen $98 billion invested in its exchange-traded funds this year so far.



 

 

 

 

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[By Lucy Brewster](/authors/lucy-brewster)

 Oct 13, 2023

 Edited by: Mark Nacinovich

 

 

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[BlackRock](https://www.etf.com/topics/blackrock), the asset-management behemoth with 424 ETFs totaling $2.3 billion in assets under management, on Friday reported third-quarter earnings that beat analysts' estimates and said it has had $98 billion in inflows to its exchange-traded funds so far this year.

“For the first time in nearly two decades, clients are earning a real return in cash and can wait for more policy and market certainty before re-risking,” BlackRock CEO Larry Fink said in the company’s [earnings statement](https://s24.q4cdn.com/856567660/files/doc_financials/2023/Q3/BLK-3Q23-Earnings-Release.pdf). “This dynamic weighed on industry and BlackRock third quarter flows."

Investors have navigated a tumultuous market environment this year, marked by high inflation and the [Federal Reserve’s](https://www.etf.com/topics/fed) interest rate hikes over the past year. As yields have reached peaks, many investors have ditched [junk bonds](https://www.etf.com/topics/junk-bond) and turned to long-term [Treasuries](https://www.etf.com/topics/treasury). In addition, they have sought cash and money-market funds instead of stocks.

## BlackRock Tops Views 

The company posted operating earnings per share of $10.91 for the third quarter, blasting past the $8.34 per share expected by Wall Street analysts.

Yet ETF inflows into the company dropped from the previous quarter. Flows into ETFs fell to $29 billion in the third quarter, down from $48 billion in the second quarter.

ETF assets under management rose 20% to $3.1 trillion at the end of September from $2.6 trillion at the same point a year ago.

In the third quarter, $34 billion went into BlackRock's [equity](https://www.etf.com/topics/equity) ETFs, $8 billion were added to strategic ETFs, and precision ETFs had $13 billion in outflows.

Yet the firm suffered $13 billion in outflows from long-term investment funds, including outflows from both mutual funds and ETFs, missing Bloomberg analysts' projections of $50 billion in inflows. As the economy turned, investors poured more into cash and money-market funds instead of longer-term equity funds.

 
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 [ Lucy Brewster Finance Reporter ](/authors/lucy-brewster) 

 

 

  Lucy Brewster is a finance reporter at etf.com covering asset managers, emerging technologies, and regulation. She hosts etf.com webinars and appears…   [View Bio](/authors/lucy-brewster)

 



 

 


 Related Topics  [Blackrock](http://www.etf.com/topics/blackrock)