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BlackRock (BLK) and Goldman Sachs (GS) posted impressive Q3 earnings on Tuesday, surpassing expectations and setting records in assets under management (AUM). BlackRock’s Q3 sales reached $6.5 billion, a 25% increase from the previous year, while Goldman Sachs reported Q3 sales of $15.18 billion, up 19% year-over-year.
BlackRock’s AUM climbed 17% to a record $13.5 trillion, maintaining its status as the largest global asset manager. Meanwhile, Goldman Sachs’ AUM also rose to a new peak of $3.45 trillion, an 11% increase. BlackRock’s earnings per share (EPS) rose to $11.55, beating expectations of $11.19, while Goldman Sachs saw its EPS grow by nearly 46% to $12.25, exceeding estimates by 10%.
In stock performance, BlackRock shares rose over 3%, leading to year-to-date gains of 18%, while Goldman Sachs stock dipped 2%, though it remains up 37% YTD. Goldman Sachs offers a dividend yield of 2.03%, compared to BlackRock’s 1.8%.
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