BlackRock Q3 2026 earnings: profit tops forecasts as assets hit $15.5 trillion
BlackRock beat Wall Street's profit and revenue targets as strong client inflows pushed its assets under management to a record $15.5 trillion.
| Q3 2026 | Reported | Expected | Surprise |
|---|---|---|---|
| EPS | $15.93 | $14.40 | +10.7% |
| Revenue | $7.75B | $7.63B | +1.6% |
Key takeaways
- Profit per share came in well above what analysts had expected, and revenue also edged past forecasts, continuing a run of beats for the asset manager this year.
- Total assets BlackRock manages for clients climbed to a record $15.5 trillion, up from roughly $13.5 trillion a year earlier, as both market gains and new client money added to the pile.
- Clients added around $205 billion of net new money in the quarter, including roughly $175 billion in longer-term investments and about $135 billion into BlackRock’s ETFs, showing continued demand for its index and exchange-traded fund lineup.
- Over the past 12 months, clients have handed BlackRock close to $869 billion in net new money, a pace management pointed to as evidence the firm is still winning business even as markets swing on interest-rate uncertainty.
- Revenue has grown at a double-digit clip over the past year, but earnings per share over that same stretch slipped slightly — a sign that costs tied to digesting recent deals, including private-markets manager HPS, infrastructure investor GIP and data firm Preqin, are still weighing on near-term profit even as they expand BlackRock into faster-growing businesses.
- The company is still converting roughly a third of each revenue dollar into operating profit and about a quarter into bottom-line profit over the past year — solid profitability for an asset manager of its size, even as margins absorb the costs of integration.
- Coverage of the quarter tied the results partly to an AI-fueled rally that lifted markets and asset values, even as investors stayed wary of further interest-rate increases.
- Management continued to point to private markets and the firm’s Aladdin technology and analytics platform, rather than traditional index funds alone, as key growth engines following its recent string of acquisitions in those areas.
How the stock took it
BlackRock Inc closed at $1066.12 on Oct 13, 2026, the last session before the report, and at $1120.78 on Oct 15, 2026, the first session after it — +5.1% across the report.
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Fundamentals
| Metric | Value | Period |
|---|---|---|
| Gross margin | 81.7% | Trailing 12 months |
| Operating margin | 32.6% | Trailing 12 months |
| Net profit margin | 24.1% | Trailing 12 months |
| Pretax margin | 33.6% | Trailing 12 months |
| EPS | $39.86 | Trailing 12 months |
| Revenue growth (YoY) | 26.5% | Trailing 12 months |
| EPS growth (YoY) | -3.7% | Trailing 12 months |
| Return on equity | 11.7% | Trailing 12 months |
Sources: company report · earnings call · InvestmentNews