BlackRock Q4 Earnings: Record Inflows Fuel Revenue And Earnings Beat, AUM Hits $11.6 Trillion Milestone

Lekha Gupta

January 15, 2025

Investment giant BlackRock, Inc. (NYSE:BLK) stock is trading higher after the company reported fourth-quarter results.

Revenue grew 23% year over year to $5.68 billion, beating the consensus of $5.53 billion.

Investment advisory, administration fees, and securities lending revenues increased to $4.4 billion from $3.6 billion a year ago, led by higher organic base fee, the impact of market beta on average AUM and, around $230 million of fees related to AUM acquired in the GIP Transaction.

Technology services revenue rose to $428 million from $379 million the prior year, led by the successful onboarding of several new clients.

BlackRock stated that net inflow stood at $281 billion in the quarter and $641 billion in 2024.

Total AUM stood at $11.6 trillion at the end of the year compared to $10.0 trillion in 2023.

Adjusted operating income rose 36% Y/Y to $2.33 billion, with the margin expanding to 45.5% from 41.6% a year ago.

Adjusted EPS increased 23% Y/Y to $11.93, beating the consensus of $11.21.

BlackRock repurchased shares worth $1.6 billion in the year.

Read: Banks Kick Off Earnings Season On Wednesday: Retail Traders Bet Big On Financials Ahead Of Regulatory Tailwinds

Laurence D. Fink, Chairman and CEO, said, “Client activity accelerated into the fourth quarter, resulting in 7% organic base fee growth and 12% technology services ACV growth.”

In December 2024, the company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion.

This transaction strengthens BlackRock’s offerings for insurance clients. The deal is expected to increase private markets fee-paying AUM and management fees by 40% and 35%, respectively, and be modestly accretive to BlackRock’s as-adjusted earnings per share in the first full year post-close.

Fink added, “Our record organic growth and financial results do not yet reflect the full integration or pending acquisitions of the high-growth businesses of GIP, HPS and Preqin. And we’ve steadily made organic investments ahead of structural trends that we expect to drive outsized growth in the years ahead.”

Investors can gain exposure to the stock via Fidelity Disruptive Finance ETF (NASDAQ:FDFF) and Schwab US Dividend Equity ETF (NYSE:SCHD).

Price Action: BLK shares are up 2.38% at $986.12 premarket at the last check Wednesday.

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Photo by rafapress on Shutterstock.

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