BlackRock, Inc. (NYSE: BLK), the world’s largest asset management company, on Tuesday reported strong revenue and earnings growth for the second quarter of fiscal 2025. Earnings also topped expectations.
Adjusted earnings increased sharply to $12.05 per share in the second quarter from $10.36 per share in Q2 2024. On an unadjusted basis, net income attributable to shareholders was $1.59 billion or $10.19 per share in Q2, compared to $1.50 billion or $9.99 per share in the prior year period.
Total revenue increased 13% year-over-year to $5.42 billion in the June quarter. The top line benefited from strong organic base fee growth and fees related to the GIP Transaction, as well as higher technology services and subscription revenue, which was partially offset by lower performance fees.
Laurence Fink, BlackRock’s CEO, said, “BlackRock’s sustained growth has been powered by our whole portfolio approach, being the first firm to bring together active and index at scale. And now we’re building on our foundational platform to redefine the whole portfolio once again by integrating public and private markets across asset management and technology.”
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