Record AUM and Strong Inflows
BlackRock finished the quarter with a record AUM of $11.6 trillion. Over the last 12 months, clients entrusted BlackRock with $670 billion of new assets, with 60% of this growth being organic. First quarter net inflows were $84 billion, with $140 billion net inflows excluding large low-fee institutional index redemptions.
Revenue and Earnings Growth
First quarter revenue increased 12% year-over-year to $5.3 billion. Operating income grew 14% to $2 billion, and earnings per share improved 15% to $11.30. The operating margin expanded by 100 basis points to 43.2%.
ETF and Technology Services Surge
ETF net inflows totaled $107 billion, with strong performance across core equity and fixed income ETFs. Technology services and subscription revenue grew by 16%, supported by the Preqin acquisition and sustained demand for Aladdin technology offerings.
Strategic Acquisitions and Partnerships
BlackRock announced acquisitions and partnerships, including a minority investment in Germany's Viridium Group, a $30 billion capital target AI infrastructure partnership, and a significant infrastructure investment with a consortium to acquire 43 ports globally.