BlackRock Q1 EPS Beats Estimates, AUM Jumps 27% to $13.89T on Record Inflows
BlackRock posted Q1 adjusted EPS of $12.53 against consensus $11.48 and revenue of $6.7B, as AUM rose 27% to $13.89T. Organic fees rose 8% year-on-year (10% over 12 months) as HPS and Preqin integrations added $230M and $65M to revenue, while iShares net inflows reached $132B and margins expanded 130bps.
1. Q1 Financial Results
BlackRock delivered adjusted earnings per share of $12.53 versus a consensus $11.48 and generated $6.7B in revenue. Assets under management climbed 27% year-over-year to $13.89T, supported by total net inflows of $130B across active, private markets and ETF strategies.
2. M&A Contributions and Fee Growth
Organic base fees grew 8% compared with the prior year and 10% over the past twelve months, driven by client consolidation onto BlackRock’s platform. The integrations of HPS and Preqin contributed approximately $230M and $65M to first-quarter revenue respectively.
3. iShares Inflows and Margin Expansion
iShares achieved record first-quarter net inflows of $132B, led by bond ETFs and strong demand for international and emerging-market exposures. Operating margin expanded by 130 basis points, reflecting the leverage of recurring fee-related earnings.