BlackRock tops profit estimates as assets climb to $15 trillion

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BlackRock assets hit a record

Highlights

BlackRock assets reached $15.34 trillion.
Net inflows rose to $192 billion.
Adjusted earnings beat Wall Street estimates.
ETF demand and market gains drove the record.

Assets under management rose to $15.34 trillion, up from $12.53 trillion a year earlier and $13.89 trillion in the first quarter, Reuters reported. BlackRock shares gained 6% in premarket trading after the company reported adjusted earnings of $13.91 a share, above analyst expectations of $12.59.

Markets and ETFs drive the quarter

The second quarter was lifted by a strong stock market rally. Major U.S. equity indexes ended June with their biggest quarterly gains since 2020, while the S&P 500 rose 15% during the period.

Client inflows also accelerated. BlackRock attracted $192 billion in net new money, compared with $68 billion a year earlier and $130 billion in the first quarter. Its iShares ETF business remained a key driver.

Equity products brought in $71.6 billion, while fixed-income products drew $92 billion. The flow mix showed that investors were not only chasing stocks but also adding bond exposure as markets stabilized.

Chief Executive Larry Fink said market fundamentals remained strong, supported by higher margins, earnings momentum, and new technology. The company also raised its planned 2026 share buybacks to $2 billion from $1.8 billion.

Private markets remain a key bet

BlackRock is also pushing deeper into private markets, where fees are higher than in many ETF products. The firm has spent about $28 billion on deals for Global Infrastructure Partners, HPS Investment Partners, and Preqin.

Private markets brought in $15.4 billion in net flows during the quarter. Private credit accounted for $6 billion, while infrastructure drew $5.2 billion.

Still, the private credit market remains under scrutiny. BlackRock kept a 5% cap on quarterly redemptions at HPS Corporate Lending Fund after investors sought to withdraw 13.3% of shares in the second quarter.

Scale becomes the advantage

The results underline how BlackRock benefits when markets rise and investors return to funds. Its ETF franchise gives the firm scale in low-cost products, while private markets offer a path to higher fees.

The challenge is balancing both sides of the business. ETFs remain the engine of broad investor flows, but BlackRock’s long-term growth strategy depends increasingly on private credit, infrastructure, and data assets.

We also reported BlackRock and JPMorgan back U.K. push into tokenized finance.

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