BlackRock ( BLK) shares rose 4% Wednesday morning as the asset manager posted better-than-expected quarterly results on record assets under management (AUM).

BlackRock's stock climbed 4.4% in premarket trading after the asset manager's Q4 earnings beat estimates with record inflows and revenue growth.

With impressive growth in assets under management (AUM), which reached a record $11.6 trillion, BlackRock ended the quarter and fiscal 2024 on a high note.

Rising stock prices tend to bode well for BlackRock, the world’s largest money manager, as inflows boost the hundreds of funds it offers. The past quarter was likely no exception. Analysts tracked by FactSet expect the New York-based firm to report a record $11.

BlackRock has reported a strong fourth quarter (Q4 2024), with profit surging 21% year-on-year and assets hitting $11.6tn. The US-based asset manager's net income attributable to shareholders reached $1.

BlackRock's assets reached a record in the fourth quarter of over $11 trillion, driven by a more than 20% profit increase. The world's largest money manager saw assets rise from nearly $10 trillion a year ago.

BlackRock’s shares rose 3.3% in premarket trade on Wednesday after the company’s assets hit a record $11.6 trillion at the end of the fourth quarter. The world’s largest asset manager said it garnered a record net inflow of $641 billion in 2024,