BlackRock reported first-quarter 2026 diluted earnings per share of $14.06, up from $9.64 a year earlier, while adjusted diluted EPS rose to $12.53 from $11.30.
Revenue climbed 27% to $6.70 billion from $5.28 billion in the first quarter of 2025. Operating income increased 66% to $2.81 billion from $1.70 billion, and operating margin widened to 42.0% from 32.2%.
Net income attributable to BlackRock rose 46% to $2.21 billion from $1.51 billion. Adjusted operating income advanced 31% to $2.67 billion from $2.03 billion, while adjusted net income increased 17% to $2.07 billion from $1.77 billion. Adjusted operating margin improved to 44.5% from 43.2%.
Assets under management reached $13.89 trillion at March 31, 2026, up 20% from $11.58 trillion a year earlier. Average assets under management increased 22% to $14.24 trillion from $11.69 trillion.
BlackRock brought in $129.7 billion of total net flows in the quarter, versus $84.2 billion in the same period last year. Long-term net flows were $136 billion, compared with $620 billion over the last 12 months and $744 billion in the latest twelve-month period cited by the company.
iShares ETFs led the quarter with $132 billion of net inflows, up from $551 billion over the last 12 months. Active strategies added $19 billion, up from $64 billion in the prior-year quarter. Fixed income brought in $41 billion, compared with $171 billion over the last 12 months. Precision and other products contributed $39 billion, versus $129 billion over the last 12 months.
By region, the Americas generated $123 billion of long-term net inflows over the last 12 months, EMEA added $13 billion, and APAC was flat in the latest quarter after $62 billion of outflows over the prior 12 months.
By client type, retail posted $15 billion of long-term inflows in the quarter versus $109 billion over the last 12 months, while institutional clients were negative $11 billion in the quarter compared with $40 billion in outflows over the last 12 months. Cash management recorded $6 billion of outflows in the quarter after $124 billion of inflows over the prior 12 months.
Technology services and subscription revenue rose 22% year over year, and technology services annual contract value increased 14%.
BlackRock repurchased $450 million of shares during the quarter and raised its quarterly cash dividend 10% to $5.73 per share. Following these announcements, the company's shares moved -1.31%, and are now trading at a price of $968.46. For more information, read the company's full 8-K submission here.
