BlackRock Q3 2026 Profit Surges as Revenue and Inflows Crush Estimates

BlackRock posted a strong third-quarter 2026 earnings beat on October 14, with adjusted EPS of $15.93 topping the consensus estimate of $14.12 by roughly 13%, a gain of 38% year over year. Revenue came in at $7.75 billion, beating the $7.52 billion estimate and rising 19% from the prior-year period. Adjusted net income reached $2.62 billion, compared to estimates of $2.34 billion, while adjusted operating income of $3.33 billion exceeded the $3.08 billion forecast.

Net inflows of $205.47 billion for the quarter were well ahead of the $171.91 billion estimate, bringing the trailing twelve-month total to $869 billion. ETFs led product flows with $134.5 billion of net inflows, followed by fixed income at $78.2 billion and equity at $52.4 billion. Private markets contributed $15.3 billion in net inflows, and BlackRock said it raised $68 billion in private markets over the last twelve months.

Total assets under management reached $15.49 trillion, up 15% year over year, though marginally below the consensus estimate of roughly $15.67 trillion. The adjusted operating margin expanded 320 basis points to 47.8%. Organic base fee growth came in at 11% annualized, and technology services revenue of $588 million matched estimates while annual contract value grew 12% year over year.

Performance fees of $630 million significantly exceeded the $412 million estimate, partly reflecting contingent consideration fair value increases of $471 million year over year tied primarily to the GIP and HPS acquisitions. Nonoperating income also received a boost from noncash pretax gains of approximately $80 million related to Securitize and approximately $22 million from Circle. The quarter also marked the first deployment by BlackRock's AI Infrastructure Partnership. The company returned $550 million to shareholders through share repurchases and declared a quarterly dividend of $5.73.