10-QPeriod: Q2 FY2026

BlackRock, Inc. Quarterly Report for Q2 Ended Jun 30, 2026

Filed August 6, 2026For Securities:BLK

Summary

BlackRock, Inc. reported strong financial results for the six months ended June 30, 2026, with total revenue increasing by 29% to $13.8 billion compared to the prior year period. This growth was driven by robust market performance, organic base fee growth, and the inclusion of fees from the HPS Transaction, alongside higher performance fees and technology services revenue. Operating income saw a significant increase of 54% to $5.3 billion, with an improved operating margin of 38.3%. Diluted earnings per share also rose substantially by 32% to $26.25. Assets under management (AUM) reached a record $15.3 trillion, up 22% year-over-year, fueled by strong net inflows across various product types, particularly ETFs and long-term strategies, and significant market appreciation. The company's financial position remains solid, with substantial liquidity resources and a strong credit facility.

Key Highlights

  • 1Total revenue increased 29% year-over-year to $13.8 billion for the six months ended June 30, 2026.
  • 2Operating income grew 54% to $5.3 billion, with an improved operating margin of 38.3%.
  • 3Diluted earnings per share (EPS) rose 32% to $26.25 for the six months ended June 30, 2026.
  • 4Assets Under Management (AUM) reached $15.3 trillion, a 22% increase year-over-year.
  • 5Significant net inflows were observed across ETFs ($310 billion) and long-term products ($773 billion).
  • 6Employee compensation and benefits expense increased by 28% reflecting growth and acquisitions.
  • 7The company announced the repurchase of an additional seven million shares, with 8.4 million shares remaining authorized for repurchase.

Frequently Asked Questions

BlackRock's revenue growth was primarily driven by the positive impact of favorable market conditions leading to higher average Assets Under Management (AUM), organic base fee growth, revenue generated from the recently acquired HPS Transaction, higher performance fees, and increased revenue from technology services and subscriptions.

BlackRock's AUM increased significantly by 22% year-over-year, reaching a record $15.3 trillion as of June 30, 2026. This growth was attributed to substantial net inflows across various product categories, especially ETFs and long-term investment strategies, combined with positive market appreciation.

The main drivers of BlackRock's increased expenses were higher employee compensation and benefits, reflecting overall business growth and the impact of acquisitions like HPS. Additionally, sales, asset and account expenses, and general and administration expenses also increased, largely due to higher average AUM and investments in technology and professional services.

BlackRock's Board of Directors authorized the repurchase of an additional seven million shares in January 2026, bringing the total authorized for repurchase to approximately 9.2 million shares. As of June 30, 2026, approximately 8.4 million shares remained available for repurchase, with the exact timing and number dependent on market conditions and legal limitations.