The earnings call highlighted BlackRock's strong performance in terms of record AUM, revenue growth, and successful acquisitions, particularly in private markets and technology. However, the company faced challenges with significant low-fee institutional index outflows and a decline in performance fees and operating margin.

Company Guidance

During BlackRock's Second Quarter 2025 Earnings Teleconference, the company provided detailed guidance on several key metrics. BlackRock reported a record $12.5 trillion in assets under management (AUM) and achieved 6% organic base fee growth, marking the fourth consecutive quarter of at least 5% growth. The company recorded $68 billion in net inflows, with $116 billion excluding low-fee institutional index redemptions. Revenue for the quarter was $5.4 billion, a 13% increase year-over-year, while operating income rose 12% to $2.1 billion. Earnings per share grew 16% to $12.05. Notably, the acquisition of HPS Investment Partners, completed on July 1, is expected to add $165 billion in client AUM and contribute approximately $450 million in revenue in the third quarter. The transaction is projected to positively impact BlackRock's effective fee rate by 0.6 basis points. The company also highlighted the closing of Global Infrastructure Partners V above its $25 billion target and announced plans to launch a proprietary LifePath target date fund with private allocations by 2026. Additionally, BlackRock's cash management platform grew by 25% year-over-year, generating $22 billion in net inflows during the quarter.

Record AUM and Revenue Growth

BlackRock finished the second quarter with record AUM of $12.5 trillion. Revenue of $5.4 billion was 13% higher year-over-year, driven by organic growth and higher average AUM.

Strong Net Inflows

Excluding low-fee institutional index redemptions, BlackRock delivered approximately $116 billion of net inflows in the quarter.

Successful Acquisitions and Expansions

BlackRock closed its acquisition of HPS Investment Partners and announced plans to acquire ElmTree Funds. These acquisitions are expected to significantly contribute to growth in private markets and technology.

Significant Growth in Technology Services

Quarterly technology services revenue and subscription revenue was up 26% compared to a year ago, driven by sustained demand for Aladdin technology offerings and the impact of the Preqin transaction.

Private Markets Fundraising Success

GIP V closed above its $25 billion target, making it the largest private market fundraise in BlackRock's history.

BlackRock (IT:1BLK) Earnings, Revenues Date & History

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IT:1BLK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 10, 2025	2025 (Q3)	10.07 / -	9.791	―	―	―
Jul 15, 2025	2025 (Q2)	9.21 / 10.30	8.851	16.31% (+1.44)
Apr 11, 2025	2025 (Q1)	8.62 / 9.65	8.381	15.19% (+1.27)
Jan 15, 2025	2024 (Q4)	9.63 / 10.19	8.253	23.50% (+1.94)
Oct 11, 2024	2024 (Q3)	8.93 / 9.79	9.321	5.04% (+0.47)
Jul 15, 2024	2024 (Q2)	8.51 / 8.85	7.929	11.64% (+0.92)
Apr 12, 2024	2024 (Q1)	8.03 / 8.38	6.775	23.71% (+1.61)
Jan 12, 2024	2023 (Q4)	7.58 / 8.25	7.63	8.17% (+0.62)
Oct 13, 2023	2023 (Q3)	7.13 / 9.32	8.159	14.24% (+1.16)
Jul 14, 2023	2023 (Q2)	7.28 / 7.93	6.288	26.09% (+1.64)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

IT:1BLK Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 15, 2025	€947.80	€905.40	-4.47%
Apr 11, 2025	€760.46	€757.17	-0.43%
Jan 15, 2025	€928.15	€962.98	+3.75%
Oct 11, 2024	€866.75	€885.74	+2.19%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.