BlackRock (BLK) Q1 2026 Earnings
Reported Apr 14, 2026 at 6:35 AM ET · SEC Source
Q1 26 EPS
$12.53
BEAT +9.14%
Est. $11.48
Q1 26 Revenue
$6.70B
BEAT +4.20%
Est. $6.43B
Did BLK Beat Earnings? Q1 2026 Results
BlackRock delivered a strong first quarter for fiscal 2026, posting adjusted EPS of $12.53 against a consensus estimate of $11.48, a beat of 9.14%, while revenue of $6.70 billion topped expectations by 4.20% and climbed 26.9% year-over-year. The stan… Read more BlackRock delivered a strong first quarter for fiscal 2026, posting adjusted EPS of $12.53 against a consensus estimate of $11.48, a beat of 9.14%, while revenue of $6.70 billion topped expectations by 4.20% and climbed 26.9% year-over-year. The standout driver behind the numbers was the sweeping contribution of BlackRock's expanded platform, particularly the HPS acquisition completed in mid-2025, which added roughly $230 million in fees and helped push investment advisory performance fees up 353% year-over-year to $272 million. Net inflows of $130 billion were broad-based, with iShares ETFs posting a record Q1 at $132 billion, and AUM reaching $13.89 trillion, up 20% year-over-year. Adjusted operating margin expanded 130 basis points to 44.5%, reflecting the firm's operating leverage as it integrates private markets and technology capabilities. Galaxy Digital's selection of BlackRock as a validator for its iShares Staked Ethereum Trust ETF underscored the firm's expanding digital footprint. Management pointed to accelerating client engagement and a growing pipeline, with CEO Fink framing the current environment of capital reallocation as a structural tailwind for BlackRock's integrated platform.
Key Takeaways
- • $130 billion of quarterly total net inflows, led by record Q1 for iShares ETFs
- • 27% revenue increase driven by organic base fee growth, market beta impact on average AUM, HPS Transaction fees, and higher technology services revenue
- • 22% growth in technology services and subscription revenue driven by Aladdin momentum and Preqin acquisition impact
- • 10% organic base fee growth over trailing twelve months
- • iShares ETFs doubled net new base fees year-over-year as clients rotated to international and precision exposures
- • Private markets net inflows of $9 billion led by private credit and infrastructure
- • Technology services ACV grew 14% year-over-year
- • Adjusted operating margin expanded over 100 basis points to 44.5%
BLK Forward Guidance & Outlook
Management expressed strong confidence in the forward trajectory, citing accelerating momentum, deep client engagement, and a growing pipeline of business. CEO Fink noted capital is in motion as market fundamentals and provider relationships are being re-evaluated, positioning BlackRock as a trusted destination. The company highlighted strong fundraising and deployment momentum in private credit and infrastructure, and emphasized the increasing value of its integrated platform across public markets, private markets, and technology.
BLK YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
BLK Revenue by Segment
With YoY comparisons, source: SEC Filings
“BlackRock delivered one of the strongest starts to a year in our history. Clients awarded us with $130 billion of net inflows in the first quarter, driving 8% organic base fee growth — our highest first quarter in five years. Technology services ACV grew 14%, and our adjusted margins expanded by over 100 basis points. Our results tell more than one quarter's story. They reflect a business with accelerating momentum, deep client engagement, and a platform built to compound across market environments. Over the last twelve months, clients entrusted BlackRock with $744 billion of net new assets, powering 10% organic base fee growth.”
— Laurence D. Fink, Q1 2026 Earnings Press Release
BLK Earnings Trends
BLK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BLK EPS Trend
Earnings per share: estimate vs actual
BLK Revenue Trend
Quarterly revenue: estimate vs actual
BLK Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $11.48 | $12.53 | +9.14% | $6.70B | +4.20% |
| Q4 25 BEAT FY | $12.21 | $13.16 | +7.75% | $7.01B | +4.99% |
| FY Full Year | — | $48.09 | — | $24.22B | — |
| Q3 25 BEAT | $11.31 | $11.55 | +2.09% | $6.51B | +3.41% |
| Q2 25 BEAT | $10.60 | $12.05 | +13.64% | $5.42B | +0.33% |