BlackRock reported record $192 billion quarterly inflows, revenue of $7.1 billion (up 31%), and EPS of $13.91 (beating estimates of $12.72), with organic base fee growth at 10% and operating margins expanding 260 basis points to 45.9%, the highest in five years. The HPS acquisition added $230 million in base fees and $115 million in performance fees, supporting raised buyback guidance of $550 million per quarter, though institutional index outflows hit $41 billion amid fee pressures. Management expressed optimism on sustainable growth and market momentum, but analysts noted risks from ETF concentration, rising expenses, and potential private market slowdowns, contributing to a post-earnings stock selloff.

Company: BlackRock, Inc. (BLK) — Q2 FY2026

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