BlackRock Inc. reported fourth‑quarter 2025 results that surpassed consensus expectations, with revenue of $7.01 billion—about 3.9 % above the $6.75 billion estimate—and adjusted earnings per share of $13.16, a $0.72 beat over the $12.44 consensus. The company’s full‑year diluted EPS rose to $35.31, while the adjusted figure climbed to $48.09, underscoring the strength of its fee‑generating businesses.
The firm’s assets under management topped $14 trillion for the first time, driven by $698 billion of net inflows for the year, including $342 billion in the fourth quarter. iShares ETFs attracted a record $181 billion of net new money, and technology‑services revenue reached $515 million, close to the $531 million reported by other analysts. These inflows reflect continued demand for passive and alternative strategies and reinforce BlackRock’s scale advantage.
GAAP net income fell 32.5 % to $1.13 billion, and GAAP diluted EPS dropped 33 % to $7.16, highlighting the impact of higher operating expenses from recent acquisitions. In contrast, adjusted figures show robust growth, illustrating the company’s ability to manage cost inflation while expanding its fee base. The divergence between GAAP and adjusted results signals that the company’s core operations remain profitable even as it invests heavily in growth initiatives.
BlackRock increased its quarterly cash dividend by 10 % to $5.73 per share, payable March 24 2026, and authorized an additional 7 million shares for repurchase, reinforcing its commitment to returning value to shareholders while maintaining a strong balance sheet.
CEO Laurence D. Fink emphasized that the quarter marked “the strongest year and quarter of net flows in our history,” noting that the $698 billion of new assets powered a 9 % organic base‑fee growth. He added that 2026 would be the first full year as a unified platform following the integration of GIP, HPS, and Preqin, and highlighted the firm’s focus on private markets, wealth, 401(k) solutions, active ETFs, and digital‑asset opportunities as key growth drivers.
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