Blackrock | 10-Q: Q1 2025 Earnings Report

BlackRock reported Q1 2025 revenue of $5.28 billion, up 12% year-over-year, driven by organic base fee growth, market beta impact on AUM, and fees from the GIP Transaction. Operating income remained relatively flat at $1.70 billion, while operating margin decreased to 32.2% from 35.8% in Q1 2024. Total AUM reached $11.58 trillion, reflecting a $33 billion increase from Q4 2024.The quarter saw strong net inflows of $83 billion in long-term products, led by $107 billion from ETFs and $13 billion from retail clients, partially offset by $37 billion outflows from institutional clients. Performance fees declined to $60 million from $204 million year-over-year, while technology services revenue grew 16% to $436 million, including contributions from the recently acquired Preqin.The company completed the acquisition of Preqin for £2.5 billion in March and announced plans to acquire HPS Investment Partners in an all-stock transaction. BlackRock maintained strong capital management, returning capital to shareholders through $838 million in dividends and $657 million in share repurchases during the quarter.

BlackRock reported Q1 2025 revenue of $5.28 billion, up 12% year-over-year, driven by organic base fee growth, market beta impact on AUM, and fees from the GIP Transaction. Operating income remained relatively flat at $1.70 billion, while operating margin decreased to 32.2% from 35.8% in Q1 2024. Total AUM reached $11.58 trillion, reflecting a $33 billion increase from Q4 2024.The quarter saw strong net inflows of $83 billion in long-term products, led by $107 billion from ETFs and $13 billion from retail clients, partially offset by $37 billion outflows from institutional clients. Performance fees declined to $60 million from $204 million year-over-year, while technology services revenue grew 16% to $436 million, including contributions from the recently acquired Preqin.The company completed the acquisition of Preqin for £2.5 billion in March and announced plans to acquire HPS Investment Partners in an all-stock transaction. BlackRock maintained strong capital management, returning capital to shareholders through $838 million in dividends and $657 million in share repurchases during the quarter.