BlackRock rises 5% after Q2 beats, AUM hits $15.3T

BlackRock reported second-quarter results that topped expectations, sending shares up 5% in premarket trading. Adjusted earnings per share were $13.91, revenue was $7.1 billion and assets under management reached a record $15.3 trillion. Net client inflows for the quarter totaled $192 billion.

Adjusted net income was $2.3 billion, an increase of 22% from a year earlier. Revenue rose 31% year over year. Assets under management increased 22% from $12.5 trillion a year earlier and from $13.9 trillion at the end of the first quarter, marking the first time BlackRock exceeded $15 trillion.

The company beat analyst expectations: adjusted EPS came in above the roughly $12.65 estimate and revenue exceeded the consensus near $6.7 billion. Long-term net inflows for the quarter were $199 billion.

BlackRock’s exchange-traded fund business drew the largest share of new money, with $178 billion of net inflows. Actively managed strategies added $53 billion on a net basis. For the first half of 2026, the firm reported record net inflows of $321 billion.

Private markets and alternatives contributed to the quarter’s inflows. Alternative and liquid private assets brought in $22 billion, including $15.4 billion to private markets. Organic base fees rose 8%, the eighth consecutive quarter with base fee growth above 5%. Performance fees increased by $211 million versus the prior-year period.

Revenue also received contributions tied to fees from the agreed acquisition of HPS Investment Partners, a private credit firm BlackRock plans to acquire for $12 billion in 2025. The company raised its planned share repurchases for 2026 to $2 billion.

In a statement, Chief Executive Larry Fink wrote, “Market fundamentals are strong and well supported, with higher margins and earnings momentum catalyzed by new technology.” He added that flows in the first six months of 2026 “more than doubled year-over-year” and that he is optimistic about future growth.

BlackRock is headquartered in New York and remains the world’s largest asset manager by assets under management. Quarter-end AUM rose from $13.9 trillion to $15.3 trillion, reflecting both net inflows and market appreciation.