BlackRock, Inc. (NYSE: BLK) on Tuesday reported stronger-than-expected earnings for the first quarter of fiscal 2026 as its revenue increased 27% year-over-year.
The asset management company reported adjusted earnings of $12.53 per share for the first quarter, compared to $11.30 per share in the prior-year quarter. The latest number exceeded Wall Street’s expectations.
The bottom-line growth was driven by a 27% surge in revenues to $6.70 billion from $5.28 billion in the first quarter of FY25. Analysts were expecting a slower growth. On a reported basis, net income attributable to the company was $2.21 billion or $14.06 per share, vs. $1.51 billion or $9.64 per share in the year-ago quarter.
Laurence Fink, BlackRock’s CEO, said, “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.”