BlackRock AUM Tops $15T on Record $321B H1 Inflows
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- BlackRock assets under management reached a record $15.3 trillion at the end of Q2, up from $12.5 trillion a year earlier, as CEO Larry Fink declared "fundamentals are strong and well supported."
- Net inflows totaled $192 billion in Q2, lifting first-half inflows to a record $321 billion, with the company calling the inflows "broad-based across the platform and driven by ETFs, private markets, active fixed income and systematic equity strategies."
- Adjusted EPS of $13.91 beat the $12.69 FactSet consensus by a wide margin and was up 15% year-over-year, while revenue rose 31% to $7.084 billion, helped by the year-old HPS private-credit acquisition.
- Shares jumped nearly 5% to $1,078 in premarket trading even though BLK had been down 4.2% year-to-date heading into the print, underperforming the S&P 500's 0.6% gain.
- BlackRock will lift its planned quarterly share repurchases to $550 million from $450 million, with the majority of covering analysts carrying buy ratings and a FactSet average price target of $1,264 implying roughly 18% upside.
Why it matters: BlackRock funneled a record $321 billion into the platform in just six months while revenue jumped 31%, showing that its ETF dominance and the HPS private-credit deal are translating into bottom-line growth well ahead of the sluggish 0.6% S&P 500 backdrop — and management is signaling confidence by stepping buybacks up by roughly 22%.
