BlackRock, Inc. (NYSE BLK) Reports Second Quarter 2025 Results

# BlackRock, Inc. (NYSE: BLK) Reports Second Quarter 2025 Results

_New York, July 15, 2025_ – BlackRock, Inc. (NYSE: BLK) has released its financial results for the three and six months ended June 30, 2025. The company’s earnings report highlights various key metrics and developments that occurred during the quarter.

## Key Highlights from Q2 2025 Financial Results

– **Total Net Inflows**:
– **$67.7 billion** in total net inflows for the quarter, marking a **decrease of 17%** compared to **$81.6 billion** in Q2 2024.
– Year-to-date total net inflows reached **$152 billion**, attributed to a record first half for iShares® ETFs.

– **Assets Under Management (AUM)**:
– AUM increased to **$12.528 trillion**, rising by **18%** from **$10.646 trillion** in Q2 2024.
– Average AUM for the quarter was **$11.975 trillion**, reflecting a **15%** increase year-over-year.

– **Revenue**:
– Total revenue for the quarter was **$5.423 billion**, a **13%** increase from **$4.805 billion** in Q2 2024.
– Investment advisory, administration fees, and securities lending revenue increased by **$579 million** year-over-year.

– **Operating Income**:
– GAAP operating income decreased by **4%**, with reported earnings being **$1.731 billion** compared to **$1.800 billion** in Q2 2024.
– As adjusted operating income increased by **12%**, from **$1.881 billion** to **$2.099 billion**.

– **Net Income**:
– Net income for the quarter stood at **$1.593 billion**, up **7%** from **$1.495 billion** in Q2 2024.
– Net income attributable to BlackRock grew to **$1.883 billion**, a **21%** increase over **$1.550 billion** last year.

– **Earnings per Share**:
– Diluted EPS reported at **$10.19**, reflecting a **2%** increase from **$9.99** in Q2 2024.
– As adjusted diluted EPS rose to **$12.05**, showing a **16%** increase from **$10.36**.

– **Dividends and Share Repurchases**:
– BlackRock declared a quarterly cash dividend of **$5.21 per share**, an increase of **$0.11** compared to **$5.10** last year.
– The company repurchased **$375 million** worth of shares during the current quarter.

## Financial Metrics and Year-over-Year Changes

– **Organic Base Fee Growth**:
– Achieved **6%** organic base fee growth for both the second quarter and the first half of 2025.
– Fees related to the GIP Transaction contributed positively.

– **Operating Margin**:
– GAAP operating margin decreased to **31.9%**, down from **37.5%** in Q2 2024.
– As adjusted operating margin is at **43.3%**, slightly lower than **44.1%** in the prior year.

– **Tax Rate**:
– The effective tax rate for the current quarter was **26.9%**, compared to **24.2%** in Q2 2024.

## Flow Highlights by Investment Type

– **Equity**:
– Net inflows reached **$28.78 billion**.

– **Fixed Income**:
– Reported net outflows of **$4.66 billion**.

– **Multi-Asset**:
– Saw outflows of **$6.74 billion**.

– **Alternatives**:
– Private markets contributed **$6.82 billion** in inflows.
– Liquid alternatives added **$2.95 billion** while other alternatives contributed **$9.77 billion**.

– **Digital Assets**:
– Experienced inflows of **$14.14 billion**, indicating growing client demand.

## Concluding Remarks

BlackRock’s ability to generate positive net flows alongside impressive growth metrics, particularly in AUM, reflects solid demand for its products and services. Despite challenges in some areas, the firm has continued to expand its asset base and offerings, particularly with technology-driven solutions and alternatives.

**Investors and stakeholders can explore more about these fiscal results and future outlook through BlackRock’s investor relations portal.**

### CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND SUPPLEMENTAL INFORMATION (in millions, except per share data)