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BlackRock

BlackRock (BLK) Q2 2026 Earnings

Reported Jul 15, 2026 at 6:33 AM ET · SEC Source

Q2 26 EPS

$13.91

BEAT +9.75%

Est. $12.67

Q2 26 Revenue

$7.08B

BEAT +5.11%

Est. $6.74B

vs S&P Since Q2 26

+5.5%

BEATING MARKET

BLK +4.0% vs S&P -1.5%

Market Reaction

Did BLK Beat Earnings? Q2 2026 Results

BlackRock posted a blowout second quarter in 2026, with adjusted diluted EPS of $13.91 beating the $12.67 consensus estimate by 9.75%, marking the fourth consecutive quarter the asset management giant has cleared Wall Street's earnings bar. Revenue c… Read more BlackRock posted a blowout second quarter in 2026, with adjusted diluted EPS of $13.91 beating the $12.67 consensus estimate by 9.75%, marking the fourth consecutive quarter the asset management giant has cleared Wall Street's earnings bar. Revenue climbed 30.6% year over year to $7.08 billion, topping forecasts by 5.11%, as record assets under management of $15.34 trillion reflected both strong market appreciation and $192 billion in net inflows during the quarter alone. The single most powerful driver behind the top-line strength was broad organic base fee growth, amplified by roughly $230 million in fees from the HPS Investment Partners acquisition and a 224% surge in performance fees to $305 million. The adjusted operating margin expanded 260 basis points to 45.9%, one of the strongest readings in years. Looking ahead, management's confidence is evident in its decision to raise quarterly share repurchases to $550 million, lifting the full-year 2026 buyback target to approximately $2 billion, as CEO Larry Fink pointed to accelerating momentum across public markets, private markets, and the company's Aladdin technology platform.

Key Takeaways

  • • Positive impact of market beta on average AUM drove base fee growth
  • • $868 billion in trailing twelve-month net inflows with 10% organic base fee growth
  • • Record first-half net inflows of $321 billion, more than doubling year-over-year
  • • HPS Transaction contributed approximately $230 million in fees
  • • Performance fees surged 224% year-over-year driven by alternatives and long-only products
  • • Securities lending revenue increased to $239 million from $171 million YoY reflecting higher spreads
  • • iShares ETFs crossed $6 trillion in AUM, roughly doubling in three years
  • • Active strategies attracted $53 billion of net inflows with record $7 billion into liquid alternatives
  • • Technology services and subscription ACV grew 15% driven by Aladdin adoption
  • • Adjusted operating margin of 45.9%, highest in almost five years

BLK Forward Guidance & Outlook

BlackRock expressed strong conviction in continued growth, increasing planned 2026 share repurchases to approximately $2 billion (up from prior levels) by raising quarterly repurchases to $550 million. CEO Fink stated momentum is accelerating, citing 8% organic base fee growth well in excess of targets, and expressed optimism about the growth ahead. The company sees continued client demand for its diversified platform spanning public markets, private markets, and technology, with Aladdin ACV growth of 15% reflecting sustained adoption.

24/7 Wall St

BLK YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

BLK Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q2 26

“Market fundamentals are strong and well supported, with higher margins and earnings momentum catalyzed by new technology. The scale and depth of our client relationships globally have never been greater. Clients are turning to BlackRock for insights and opportunities. That's powering record financial performance, $868 billion of net inflows, and 10% organic base fee growth over the last year. Flows in the first six months of 2026 more than doubled year-over-year, driving AUM to a record $15.3 trillion.”

— Laurence D. Fink, Q2 2026 Earnings Press Release

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