BLK 10-K Annual Reports

BlackRock, Inc. concluded the fiscal year 2024 with robust growth, reporting total revenue of $20.4 billion, a 14% increase year-over-year, and diluted earnings per share of $42.01. Assets under management (AUM) reached a record $11.6 trillion, driven by strong net inflows of $641 billion and strategic acquisitions, most notably the Global Infrastructure Partners (GIP) transaction. The company demonstrated significant operational improvement, with operating income rising by 21% to $7.6 billion and operating margin expanding by 200 basis points to 37.1% on a GAAP basis. These results were bolstered by strong performance across all business segments, including investment advisory, technology services (particularly Aladdin), and performance fees, which saw a substantial increase. BlackRock continues to prioritize long-term growth through strategic investments in private markets and technology, evidenced by the planned acquisitions of Preqin and HPS Investment Partners, which are expected to further enhance its alternative asset capabilities and data offerings. The company also saw substantial inflows into its iShares ETFs, including notable traction in cryptocurrency ETPs, and a strong showing in multi-asset and fixed-income strategies, indicating broad client demand across its diversified product suite.