Summary
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.
Financial Highlights
45 data points| Revenue | $20.41B |
| Operating Expenses | $12.83B |
| Operating Income | $7.57B |
| Net Income | $6.37B |
| EPS (Basic) | $42.45 |
| EPS (Diluted) | $42.01 |
| Shares Outstanding (Basic) | 150.04M |
| Shares Outstanding (Diluted) | 151.62M |
Key Highlights
- 1Assets Under Management (AUM) grew to a record $11.6 trillion, up from $10.0 trillion in the prior year, driven by net inflows and strategic acquisitions.
- 2Total revenue increased by 14% to $20.4 billion, reflecting strong performance across advisory, administration, securities lending, performance fees, and technology services.
- 3GAAP Operating income increased by 21% to $7.6 billion, with the operating margin improving to 37.1%, indicating enhanced operational efficiency.
- 4Net inflows reached $641 billion, demonstrating strong client demand across various product types, including ETFs, fixed income, and equity strategies.
- 5The acquisition of Global Infrastructure Management, LLC (GIP) was completed, significantly expanding BlackRock's private markets capabilities and contributing to AUM growth.
- 6Technology services revenue, primarily from the Aladdin platform, grew 8% year-over-year, with Annual Contract Value (ACV) increasing by 12%, highlighting the continued demand for BlackRock's technology solutions.
- 7Diluted earnings per share increased by 15% to $42.01, reflecting the company's strong financial performance and operational leverage.