Wall Street Watches BlackRock Ahead of Q2 Results

BlackRock will report second-quarter results before the U.S. market open on Wednesday, July 15. Analysts’ consensus is about $12.65 in earnings per share, up roughly 5% from a year earlier, on revenue near $6.74 billion, about 24% higher year over year. A separate consensus puts EPS at $12.57 on $6.72 billion of revenue.

The firm posted higher-than-expected EPS in each of the last four quarters and exceeded revenue forecasts in three of those periods. Over the past three months analysts issued seven upward and three downward revisions to EPS estimates, while revenue forecasts saw four upward and one downward revision.

Seventeen analysts cover the stock, with 14 rated Buy and three rated Hold. The average price target is $1,259, implying roughly 22% upside from the recent share price near $1,030. Barclays raised its target to $1,340 and Morgan Stanley to $1,430. Consensus earnings estimates rose 0.75% and revenue forecasts climbed 1.74% over the past 60 days.

Investors will focus on assets under management, net inflows to iShares ETFs, fee revenue and the performance of the Aladdin technology platform and the alternatives business. In the first quarter BlackRock reported $136 billion of long-term net inflows, below a Visible Alpha consensus of $150 billion but including a record $132 billion into iShares exchange-traded products. The quarter also showed $3 billion in active equity inflows and $9 billion into private markets, led by private credit and infrastructure.

Fee trends and operating margins are under close watch. In the first quarter BlackRock reported 8% year-over-year organic fee growth and adjusted operating margin expansion of more than 100 basis points. Analysts will monitor whether fee rates hold and how higher costs affect profitability in the quarter being reported.

Market participants will assess demand for recent product launches, including the iShares Nasdaq 100 ETF, and flows across index, active and alternatives strategies. A Morgan Stanley research note projected about an 18% EPS compound annual growth rate from 2025 to 2028 driven by roughly 5% average long-term organic growth, and forecast net inflows of 5.6% and 5.2% in 2026 and 2027 led by alternatives and fixed income.

The earnings release will provide management commentary on client demand, current market conditions and plans for capital deployment for the second half of the year.