Analyst Consensus ?
ConsensusBuy33 ratings
Bullish2678.8%
Neutral721.2%
Bearish00.0%
BlackRock, Inc. · BLK · FY2026 Q1 · Calendar Q2 2026
BlackRock tops Q1 estimates as record $130B inflows lift EPS ~7.6%
BlackRock's Q1 results reinforce a growth-plus-margin story for the next year: double-digit revenue and EPS expansion (EPS $12.53 vs $11.65 consensus), a record $130B in net inflows led by iShares ETFs, and acquired businesses (HPS, Preqin) now contributing materially to revenue. Management describes organic base-fee growth as durable and points to retirement and private-credit tailwinds. The main test through the balance of 2026 is whether organic momentum persists in a volatile, geopolitically unsettled environment and whether the DOL's proposed private-assets-in-401(k) rule converts a regulatory shift into product demand.
Reported Before market openNYSEFinancial Services
$166.38B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$12.53
Consensus $11.65
EPS surprise
+7.6%
Reported versus consensus
Reported revenue
$6.70B
Consensus $6.55B
Revenue surprise
+2.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+3.0%
Event window
SPY move
+1.2%
Same window
Abnormal move
+1.8%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
+3.6%
Up to 20 sessions
BLKSPY benchmark
Ask FN2 about BLK FY2026 Q1
Transcript, numbers and history already loaded
Why did BLK rise 3.0% after beating EPS estimates in FY2026 Q1?What changed in BLK's guidance and outlook in FY2026 Q1?Give me the bull and bear case for BLK after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
BlackRock beat the Q1 consensus on both lines: EPS of $12.53 versus $11.65 expected (~7.6% surprise) on revenue of $6.70B versus ~$6.55B. Net inflows hit a record $130B, including $132B of iShares ETF inflows and $13B at Aperio. Operating margin expanded 130 bps YoY to 44.5%, and HPS plus Preqin contributed roughly $295M of combined quarterly revenue. The stock moved up ~1.8% on an abnormal basis in the reaction window and drifted another ~3.6% higher subsequently.
Guidance delta
maintained
Key takeaways
- Double-digit revenue, operating income and margin expansion, with operating margin up 130 bps YoY.
- Record iShares ETF inflows of $132B and $13B of Aperio inflows drove strong client demand.
- Acquired businesses HPS and Preqin are now material contributors to fee and technology revenue.
- Whole-portfolio platform combining public, private and technology is driving client consolidation.
- Positive outlook for retirement solutions and private-credit growth amid favorable regulatory developments.
Management priorities
- Launch LifePath target-date funds that incorporate private-market exposure.
- Introduce the IQQ NASDAQ-100 ETF and expand iShares global offerings.
- Scale Aperio and Spider Rock platforms, targeting double-to-triple growth.
- Roll out new HLEND series of private-wealth vehicles (real assets, net-lease).
- Continue quarterly share repurchases of at least $450M and accelerate infrastructure and private-credit deployment via HPS and GIP.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$1,086.31Current
$729Low
$1,142.25Average
$1,488High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 9, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 17, 2026 |
| UBS | Buy | Buy | Maintain | Jul 16, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 16, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Jul 16, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Jul 16, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 16, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 16, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 15, 2026 |
| Freedom Broker | Buy | Hold | Upgrade | Jan 23, 2026 |
| TD Cowen | Hold | Buy | Downgrade | Jan 14, 2026 |
| Citigroup | Buy | Buy | Maintain | Sep 29, 2025 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 16, 2025 |
| Argus Research | Buy | Buy | Maintain | Jun 17, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Jan 16, 2025 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Dec 12, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Apr 17, 2023 |
| Jefferies | Buy | Buy | Maintain | Aug 31, 2021 |
| Argus | Buy | Buy | Maintain | Oct 17, 2018 |
| Keefe Bruyette & Woods | Outperform | Market Perform | Upgrade | Jul 13, 2018 |
| Susquehanna | Neutral | Neutral | Maintain | Sep 3, 2015 |
| PiperJaffray | Neutral | Neutral | Maintain | Jun 3, 2015 |
| Bernstein | Outperform | Market Perform | Upgrade | Nov 21, 2014 |
| Bank of America | Buy | Buy | Maintain | Oct 14, 2014 |
| Evercore Partners | Overweight | Overweight | Maintain | Jul 10, 2013 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jun 20, 2013 |
| Stifel | Buy | Buy | Maintain | Jun 20, 2013 |
| Macquarie | Outperform | Neutral | Upgrade | May 21, 2013 |
| Gabelli & Co. | Hold | Buy | Downgrade | May 16, 2013 |
| Nomura | Buy | Buy | Maintain | Mar 25, 2013 |
| Standpoint Research | Hold | Buy | Downgrade | Dec 20, 2012 |
| Sterne Agee | Neutral | Neutral | Maintain | Oct 17, 2012 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 25, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $1,086.31. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Glenn Schorr | $1,260 | $1,132.32 | +16.0% | Aug 10, 2026 |
| Deutsche Bank | Analyst unavailable | $1,258 | $1,105.42 | +15.8% | Jul 16, 2026 |
| UBS | Michael Brown | $1,320 | $1,109.1 | +21.5% | Jul 16, 2026 |
| Goldman Sachs | Analyst unavailable | $1,389 | $1,104 | +27.9% | Jul 16, 2026 |
| Morgan Stanley | Michael Cyprys | $1,488 | $1,093.4 | +37.0% | Jul 16, 2026 |
| Barclays | Analyst unavailable | $1,450 | $1,093.4 | +33.5% | Jul 15, 2026 |
| Morgan Stanley | Michael Cyprys | $1,383 | $1,033.98 | +27.3% | Jul 14, 2026 |
| Evercore ISI | Analyst unavailable | $1,145 | $1,040.29 | +5.4% | Jul 10, 2026 |
| Morgan Stanley | Michael Cyprys | $1,430 | $974.18 | +31.6% | Jun 26, 2026 |
| Evercore ISI | Analyst unavailable | $1,140 | $998.24 | +4.9% | Jun 8, 2026 |
| Evercore ISI | Analyst unavailable | $1,220 | $1,054.56 | +12.3% | Apr 15, 2026 |
| Morgan Stanley | Analyst unavailable | $1,393 | $1,054.56 | +28.2% | Apr 15, 2026 |
| BMO Capital | Analyst unavailable | $1,200 | $992.81 | +10.5% | Apr 10, 2026 |
| UBS | Analyst unavailable | $1,235 | $1,001.62 | +13.7% | Apr 9, 2026 |
| BlackRock | Mikhail Paramonov | $1,364 | $1,129.91 | +25.6% | Jan 23, 2026 |
| Deutsche Bank | Analyst unavailable | $1,380 | $1,175.97 | +27.0% | Jan 16, 2026 |
| UBS | Michael Brown | $1,280 | $1,156.65 | +17.8% | Jan 16, 2026 |
| Barclays | Analyst unavailable | $1,350 | $1,156.65 | +24.3% | Jan 16, 2026 |
| Jefferies | Daniel Fannon | $1,351 | $1,156.65 | +24.4% | Jan 16, 2026 |
| BlackRock | Analyst unavailable | $1,209 | $1,089.54 | +11.3% | Jan 14, 2026 |
| UBS | Analyst unavailable | $1,218 | $1,085.9 | +12.1% | Jan 12, 2026 |
| Barclays | Analyst unavailable | $1,300 | $1,075.09 | +19.7% | Jan 8, 2026 |
| Morgan Stanley | Analyst unavailable | $1,514 | $1,081.3 | +39.4% | Dec 17, 2025 |
| Barclays | Analyst unavailable | $1,340 | $1,101.9 | +23.4% | Dec 12, 2025 |
| UBS | Michael Brown | $1,180 | $1,083.36 | +8.6% | Dec 11, 2025 |
| Goldman Sachs | Alexander Blostein | $1,313 | $1,070.94 | +20.9% | Dec 9, 2025 |
| Loop Capital Markets | Mikhail Paramonov | $1,255 | $1,130 | +15.5% | Oct 21, 2025 |
| Deutsche Bank | Analyst unavailable | $1,312 | $1,192.19 | +20.8% | Oct 15, 2025 |
| Argus Research | Stephen Biggar | $1,330 | $1,187.53 | +22.4% | Oct 15, 2025 |
| Morgan Stanley | Analyst unavailable | $1,486 | $1,201.66 | +36.8% | Oct 15, 2025 |
| Barclays | Benjamin Budish | $1,360 | $1,194.26 | +25.2% | Oct 15, 2025 |
| Deutsche Bank | Analyst unavailable | $1,320 | $1,194.26 | +21.5% | Oct 15, 2025 |
| Barclays | Analyst unavailable | $1,310 | $1,166.23 | +20.6% | Oct 8, 2025 |
| Morgan Stanley | Michael Cyprys | $1,362 | $1,172.95 | +25.4% | Oct 6, 2025 |
| Evercore ISI | Analyst unavailable | $1,200 | $1,099.15 | +10.5% | Sep 5, 2025 |
| UBS | Brennan Hawken | $980 | $1,077.1 | -9.8% | Jul 8, 2025 |
| Wells Fargo | Michael Brown | $1,175 | $1,013.18 | +8.2% | Jan 16, 2025 |
| Barclays | Benjamin Budish | $1,160 | $980.76 | +6.8% | Jan 13, 2025 |
| Wells Fargo | Michael Brown | $1,155 | $980.76 | +6.3% | Jan 7, 2025 |
| Evercore ISI | Glenn Schorr | $1,180 | $1,022.18 | +8.6% | Dec 3, 2024 |
| Citigroup | Chris Allen | $1,150 | $990.26 | +5.9% | Oct 14, 2024 |
| Morgan Stanley | Michael Cyprys | $1,245 | $990.26 | +14.6% | Oct 14, 2024 |
| Deutsche Bank | Brian Bedell | $1,105 | $990.26 | +1.7% | Oct 14, 2024 |
| Evercore ISI | Glenn Schorr | $1,040 | $990.26 | -4.3% | Oct 14, 2024 |
| Barclays | Benjamin Budish | $1,120 | $990.26 | +3.1% | Oct 14, 2024 |
| Wells Fargo | Michael Brown | $1,090 | $990.26 | +0.3% | Oct 13, 2024 |
| Goldman Sachs | Alexander Blostein | $1,118 | $990.26 | +2.9% | Oct 11, 2024 |
| Evercore ISI | Glenn Schorr | $995 | $986.48 | -8.4% | Oct 11, 2024 |
| BlackRock | Aidan Hall | $934 | $834.62 | -14.0% | Jul 16, 2024 |
| BlackRock | Aidan Hall | $915 | $833.73 | -15.8% | Jul 12, 2024 |
| Evercore ISI | Glenn Schorr | $900 | $785.96 | -17.2% | Apr 12, 2024 |
| Goldman Sachs | Alexander Blostein | $913 | $785.96 | -16.0% | Apr 12, 2024 |
| Deutsche Bank | Brian Bedell | $936 | $792.09 | -13.8% | Apr 5, 2024 |
| BlackRock | Bradley Hays | $938 | $791.38 | -13.7% | Jan 16, 2024 |
| Morgan Stanley | Mike Cyprys | $888 | $738.93 | -18.3% | Jul 18, 2023 |
| BlackRock | Michael Brown | $835 | $694.54 | -23.1% | Jul 10, 2023 |
| Credit Suisse | Bill Katz | $920 | $697.44 | -15.3% | Apr 17, 2023 |
| Morgan Stanley | Analyst unavailable | $754 | $560 | -30.6% | Oct 3, 2022 |
| Deutsche Bank | Analyst unavailable | $860 | $748.14 | -20.8% | Aug 12, 2022 |
| Morgan Stanley | Analyst unavailable | $773 | $622.94 | -28.8% | Jul 27, 2022 |
| J.P. Morgan | Analyst unavailable | $729 | $623.7 | -32.9% | Jul 8, 2022 |
| Morgan Stanley | Analyst unavailable | $801 | $600.68 | -26.3% | Jun 30, 2022 |
| Goldman Sachs | Analyst unavailable | $710 | $617.96 | -34.6% | Jun 29, 2022 |
| Deutsche Bank | Brian Bedell | $747 | $600.44 | -31.2% | May 22, 2022 |
| Citigroup | William Katz | $900 | $716.83 | -17.2% | Apr 12, 2022 |
| Deutsche Bank | Brian Bedell | $950 | $728.38 | -12.5% | Apr 11, 2022 |
| J.P. Morgan | Ken Worthington | $912 | $728.38 | -16.0% | Apr 11, 2022 |
| Morgan Stanley | Michael Cyprys | $966 | $728.38 | -11.1% | Apr 11, 2022 |
| UBS | Brennan Hawken | $915 | $745.23 | -15.8% | Apr 6, 2022 |
| Bank of America Securities | Craig Siegenthaler | $991 | $764.43 | -8.8% | Apr 5, 2022 |
| Deutsche Bank | Brian Bedell | $1,024 | $756.02 | -5.7% | Feb 20, 2022 |
| Deutsche Bank | Brian Bedell | $1,123 | $848.6 | +3.4% | Jan 17, 2022 |
| Jefferies | Daniel Fannon | $1,014 | $842.99 | -6.7% | Jan 14, 2022 |
| Citigroup | William Katz | $1,035 | $882.54 | -4.7% | Oct 14, 2021 |
| Argus Research | Stephen Biggar | $975 | $866.38 | -10.2% | Jul 15, 2021 |
| CFRA | Catherine Seifert | $850 | $796.86 | -21.8% | Apr 23, 2021 |
| Barclays | Jeremy Campbell | $925 | $795.18 | -14.8% | Apr 16, 2021 |
Track every rating change on BLK the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks. It also provides global risk management and advisory services. The firm manages separate client-focused equity, fixed income, and balanced portfolios. It also launches and manages open-end and closed-end mutual funds, offshore funds, unit trusts, and alternative investment vehicles including structured funds. The firm launches equity, fixed income, balanced, and real estate mutual funds. It also launches equity, fixed income, balanced, currency, commodity, and multi-asset exchange traded funds. The firm also launches and manages hedge funds.…
Historical context
All BLK earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
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- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
Get the BLK recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-25T21:01:06.651670+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-25T21:01:06.648935+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-25. For educational purposes only; not investment advice.