Analyst Consensus ?
ConsensusBuy33 ratings
Bullish2678.8%
Neutral721.2%
Bearish00.0%
BlackRock, Inc. · BLK · FY2026 Q2 · Calendar Q3 2026
BlackRock Q2 2026: Record Revenue and Inflows as Tokenization Plans Accelerate
BlackRock delivered record Q2 2026 results, with revenue rising 31% year-over-year to $7.1 billion and EPS of $13.91, beating consensus estimates on both lines. The quarter was powered by $192 billion in net inflows spanning ETFs, private markets, and digital asset strategies, while operating margin reached 45.9%, the highest in five years. Management raised the quarterly share repurchase target to at least $550 million and advanced strategic initiatives in tokenization, private-markets expansion, and technology platform integration, signaling confidence in sustained organic base-fee growth.
Reported Before market openNYSEFinancial Services
$164.63B market cap
100quality score
Company 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.…
Earnings scorecard
Reported versus consensus
Reported EPS
$13.91
Consensus $13
EPS surprise
+9.6%
Reported versus consensus
Reported revenue
$7.08B
Consensus $6.73B
Revenue surprise
+5.3%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$1,079.65Current
$729Low
$1,142.25Average
$1,488High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 11, 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 $1,079.65. 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 | +16.7% | Aug 10, 2026 |
| Deutsche Bank | Analyst unavailable | $1,258 | $1,105.42 | +16.5% | Jul 16, 2026 |
| UBS | Michael Brown | $1,320 | $1,109.1 | +22.3% | Jul 16, 2026 |
| Goldman Sachs | Analyst unavailable | $1,389 | $1,104 | +28.7% | Jul 16, 2026 |
| Morgan Stanley | Michael Cyprys | $1,488 | $1,093.4 | +37.8% | Jul 16, 2026 |
| Barclays | Analyst unavailable | $1,450 | $1,093.4 | +34.3% | Jul 15, 2026 |
| Morgan Stanley | Michael Cyprys | $1,383 | $1,033.98 | +28.1% | Jul 14, 2026 |
| Evercore ISI | Analyst unavailable | $1,145 | $1,040.29 | +6.1% | Jul 10, 2026 |
| Morgan Stanley | Michael Cyprys | $1,430 | $974.18 | +32.5% | Jun 26, 2026 |
| Evercore ISI | Analyst unavailable | $1,140 | $998.24 | +5.6% | Jun 8, 2026 |
| Evercore ISI | Analyst unavailable | $1,220 | $1,054.56 | +13.0% | Apr 15, 2026 |
| Morgan Stanley | Analyst unavailable | $1,393 | $1,054.56 | +29.0% | Apr 15, 2026 |
| BMO Capital | Analyst unavailable | $1,200 | $992.81 | +11.1% | Apr 10, 2026 |
| UBS | Analyst unavailable | $1,235 | $1,001.62 | +14.4% | Apr 9, 2026 |
| BlackRock | Mikhail Paramonov | $1,364 | $1,129.91 | +26.3% | Jan 23, 2026 |
| Deutsche Bank | Analyst unavailable | $1,380 | $1,175.97 | +27.8% | Jan 16, 2026 |
| UBS | Michael Brown | $1,280 | $1,156.65 | +18.6% | Jan 16, 2026 |
| Barclays | Analyst unavailable | $1,350 | $1,156.65 | +25.0% | Jan 16, 2026 |
| Jefferies | Daniel Fannon | $1,351 | $1,156.65 | +25.1% | Jan 16, 2026 |
| BlackRock | Analyst unavailable | $1,209 | $1,089.54 | +12.0% | Jan 14, 2026 |
| UBS | Analyst unavailable | $1,218 | $1,085.9 | +12.8% | Jan 12, 2026 |
| Barclays | Analyst unavailable | $1,300 | $1,075.09 | +20.4% | Jan 8, 2026 |
| Morgan Stanley | Analyst unavailable | $1,514 | $1,081.3 | +40.2% | Dec 17, 2025 |
| Barclays | Analyst unavailable | $1,340 | $1,101.9 | +24.1% | Dec 12, 2025 |
| UBS | Michael Brown | $1,180 | $1,083.36 | +9.3% | Dec 11, 2025 |
| Goldman Sachs | Alexander Blostein | $1,313 | $1,070.94 | +21.6% | Dec 9, 2025 |
| Loop Capital Markets | Mikhail Paramonov | $1,255 | $1,130 | +16.2% | Oct 21, 2025 |
| Deutsche Bank | Analyst unavailable | $1,312 | $1,192.19 | +21.5% | Oct 15, 2025 |
| Argus Research | Stephen Biggar | $1,330 | $1,187.53 | +23.2% | Oct 15, 2025 |
| Morgan Stanley | Analyst unavailable | $1,486 | $1,201.66 | +37.6% | Oct 15, 2025 |
| Barclays | Benjamin Budish | $1,360 | $1,194.26 | +26.0% | Oct 15, 2025 |
| Deutsche Bank | Analyst unavailable | $1,320 | $1,194.26 | +22.3% | Oct 15, 2025 |
| Barclays | Analyst unavailable | $1,310 | $1,166.23 | +21.3% | Oct 8, 2025 |
| Morgan Stanley | Michael Cyprys | $1,362 | $1,172.95 | +26.2% | Oct 6, 2025 |
| Evercore ISI | Analyst unavailable | $1,200 | $1,099.15 | +11.1% | Sep 5, 2025 |
| UBS | Brennan Hawken | $980 | $1,077.1 | -9.2% | Jul 8, 2025 |
| Wells Fargo | Michael Brown | $1,175 | $1,013.18 | +8.8% | Jan 16, 2025 |
| Barclays | Benjamin Budish | $1,160 | $980.76 | +7.4% | Jan 13, 2025 |
| Wells Fargo | Michael Brown | $1,155 | $980.76 | +7.0% | Jan 7, 2025 |
| Evercore ISI | Glenn Schorr | $1,180 | $1,022.18 | +9.3% | Dec 3, 2024 |
| Citigroup | Chris Allen | $1,150 | $990.26 | +6.5% | Oct 14, 2024 |
| Morgan Stanley | Michael Cyprys | $1,245 | $990.26 | +15.3% | Oct 14, 2024 |
| Deutsche Bank | Brian Bedell | $1,105 | $990.26 | +2.3% | Oct 14, 2024 |
| Evercore ISI | Glenn Schorr | $1,040 | $990.26 | -3.7% | Oct 14, 2024 |
| Barclays | Benjamin Budish | $1,120 | $990.26 | +3.7% | Oct 14, 2024 |
| Wells Fargo | Michael Brown | $1,090 | $990.26 | +1.0% | Oct 13, 2024 |
| Goldman Sachs | Alexander Blostein | $1,118 | $990.26 | +3.6% | Oct 11, 2024 |
| Evercore ISI | Glenn Schorr | $995 | $986.48 | -7.8% | Oct 11, 2024 |
| BlackRock | Aidan Hall | $934 | $834.62 | -13.5% | Jul 16, 2024 |
| BlackRock | Aidan Hall | $915 | $833.73 | -15.3% | Jul 12, 2024 |
| Evercore ISI | Glenn Schorr | $900 | $785.96 | -16.6% | Apr 12, 2024 |
| Goldman Sachs | Alexander Blostein | $913 | $785.96 | -15.4% | Apr 12, 2024 |
| Deutsche Bank | Brian Bedell | $936 | $792.09 | -13.3% | Apr 5, 2024 |
| BlackRock | Bradley Hays | $938 | $791.38 | -13.1% | Jan 16, 2024 |
| Morgan Stanley | Mike Cyprys | $888 | $738.93 | -17.8% | Jul 18, 2023 |
| BlackRock | Michael Brown | $835 | $694.54 | -22.7% | Jul 10, 2023 |
| Credit Suisse | Bill Katz | $920 | $697.44 | -14.8% | Apr 17, 2023 |
| Morgan Stanley | Analyst unavailable | $754 | $560 | -30.2% | Oct 3, 2022 |
| Deutsche Bank | Analyst unavailable | $860 | $748.14 | -20.3% | Aug 12, 2022 |
| Morgan Stanley | Analyst unavailable | $773 | $622.94 | -28.4% | Jul 27, 2022 |
| J.P. Morgan | Analyst unavailable | $729 | $623.7 | -32.5% | Jul 8, 2022 |
| Morgan Stanley | Analyst unavailable | $801 | $600.68 | -25.8% | Jun 30, 2022 |
| Goldman Sachs | Analyst unavailable | $710 | $617.96 | -34.2% | Jun 29, 2022 |
| Deutsche Bank | Brian Bedell | $747 | $600.44 | -30.8% | May 22, 2022 |
| Citigroup | William Katz | $900 | $716.83 | -16.6% | Apr 12, 2022 |
| Deutsche Bank | Brian Bedell | $950 | $728.38 | -12.0% | Apr 11, 2022 |
| J.P. Morgan | Ken Worthington | $912 | $728.38 | -15.5% | Apr 11, 2022 |
| Morgan Stanley | Michael Cyprys | $966 | $728.38 | -10.5% | Apr 11, 2022 |
| UBS | Brennan Hawken | $915 | $745.23 | -15.3% | Apr 6, 2022 |
| Bank of America Securities | Craig Siegenthaler | $991 | $764.43 | -8.2% | Apr 5, 2022 |
| Deutsche Bank | Brian Bedell | $1,024 | $756.02 | -5.2% | Feb 20, 2022 |
| Deutsche Bank | Brian Bedell | $1,123 | $848.6 | +4.0% | Jan 17, 2022 |
| Jefferies | Daniel Fannon | $1,014 | $842.99 | -6.1% | Jan 14, 2022 |
| Citigroup | William Katz | $1,035 | $882.54 | -4.1% | Oct 14, 2021 |
| Argus Research | Stephen Biggar | $975 | $866.38 | -9.7% | Jul 15, 2021 |
| CFRA | Catherine Seifert | $850 | $796.86 | -21.3% | Apr 23, 2021 |
| Barclays | Jeremy Campbell | $925 | $795.18 | -14.3% | Apr 16, 2021 |
Track every rating change on BLK the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+6.6%
Event window
SPY move
+0.4%
Same window
Abnormal move
+6.2%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+0.3%
Up to 20 sessions
BLKSPY benchmark
Follow BLK with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeTranscript intelligence
What changed
Compared to Q1 2026, where BlackRock posted $6.7 billion in revenue with $130 billion in net inflows and a 44.5% operating margin, Q2 accelerated on every headline metric. Revenue grew 31% year-over-year to $7.1 billion, net inflows rose to $192 billion, and operating margin expanded to 45.9% (46.5% adjusted). EPS jumped from $12.53 to $13.91. The quarterly buyback target increased from at least $450 million to at least $550 million. New developments since Q1 include SEC filings to tokenize money-market funds on Ethereum, LifePath Paycheck reaching $30 billion in AUM, and articulation of a 2030 growth plan targeting more than 30% of revenue from private markets and technology.
Guidance delta
Management maintained positive guidance sentiment, consistent with Q1. The firm raised its quarterly share repurchase commitment from at least $450 million to at least $550 million. Organic base-fee growth of 8% year-over-year and the newly articulated 2030 growth plan, targeting over 30% of revenue from private markets and technology, reinforce the forward outlook. No downward revisions were indicated.
Key takeaways
- Q2 revenue rose 31% YoY to $7.1 billion with EPS of $13.91, beating consensus EPS of $12.69 and revenue of $6.73 billion.
- Net inflows reached $192 billion, up from $130 billion in Q1, driven by ETFs, private markets, and digital asset demand.
- Operating margin expanded to 45.9% (46.5% adjusted), the highest in five years, up from 44.5% in Q1.
- Share repurchase target raised to at least $550 million per quarter from $450 million previously.
- SEC filings submitted to tokenize money-market funds on Ethereum, advancing the digital asset strategy.
- LifePath Paycheck reached $30 billion in AUM, establishing a retirement-income platform.
Management priorities
- Execute the 2030 growth plan targeting over 30% of revenue from private markets and technology.
- Launch tokenized ETFs and money-market funds across multiple blockchain networks.
- Scale Aladdin, Preqin, and eFront integration for end-to-end data and analytics.
- Grow LifePath Paycheck and other retirement-income solutions.
- Deploy capital to infrastructure data-center projects and expand HPS/GIP joint origination.
- Repurchase at least $550 million of shares per quarter.
Related earnings events
Financial ServicesHIG · FY2026 Q2 · Calendar Q3 2026The Hartford Beats on Q2 Core Earnings, Divests Hartford Funds, Expands Buyback to $4.2BAXP · FY2026 Q2 · Calendar Q3 2026AXP Q2 2026: Platinum Card Drives 10% Revenue Growth, Full-Year Guidance RaisedGL · FY2026 Q2 · Calendar Q3 2026Globe Life Q2: Net Income Up 20%, EPS Guidance Raised on AI and Reinsurance Initiatives
Sources
- Earnings call transcript and parsed analysis · 2026-07-15T18:03:11.780777+00:00
- FN2 earnings calendar · 2026-07-28T01:23:15.070317+00:00
- Polygon adjusted daily market bars · 2026-07-28T16:51:04.571568+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T16:51:04.568734+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 . For educational purposes only; not investment advice.