Financial Data and Key Metrics - BlackRock achieved record net inflows of $641 billion in 2024, with $281 billion in Q4 alone, driven by strong client activity and market conditions [7][17] - Full-year revenue grew 14% YoY to $20.4 billion, with operating income up 23% to $8.1 billion and EPS increasing 15% to $43.61 [18] - Q4 revenue rose 23% YoY to $5.7 billion, with operating income up 36% to $2.3 billion and EPS increasing 23% to $11.93 [19] - AUM reached a new high of nearly $11.6 trillion, with a 7% annualized organic base fee growth in Q4, the highest in three years [10] Business Line Performance - ETFs saw record net inflows of $390 billion in 2024, with $143 billion in Q4, driven by seasonal portfolio reallocations and strong demand for digital asset ETPs [34] - Institutional platform generated $74 billion in net inflows, led by $64 billion in active strategies, while retail net inflows were $24 billion, driven by Aperio and active fixed-income funds [35][36] - Private markets saw $9 billion in net inflows, with infrastructure and private credit leading the way, and $13 billion in realizations from private equity, private credit, and infrastructure strategies [36] Market Performance - US clients contributed $385 billion in net inflows, while European ETF platform grew to nearly $1 trillion in assets, driven by individual investors and digital-first offerings [33][73] - Cash management platform saw $81 billion in net inflows in Q4 and $153 billion for the full year, with AUM up 20% YoY [38] Strategic Direction and Industry Competition - BlackRock is integrating GIP, HPS, and Preqin to enhance its private markets and technology offerings, expected to contribute over 20% of total revenue [15][16] - The company is focusing on structural growth areas like ETFs, Aladdin, outsourcing, and fixed income, aiming for 5% organic growth through market cycles [11][12] - BlackRock is positioning itself as a leader in blending public and private markets, with a focus on private credit, infrastructure, and technology-driven solutions [63][64] Management Commentary on Operating Environment and Future Outlook - Management highlighted the importance of AI, low-carbon transition, and evolving debt financing as mega forces shaping the future of capital markets [60] - The company expects 2025 to be a dynamic investing environment, with opportunities in fixed income, private credit, and infrastructure [98][99] - BlackRock is optimistic about market opportunities and believes it is well-positioned to capitalize on structural growth trends [85] Other Key Information - BlackRock returned $4.7 billion to shareholders through dividends and share repurchases in 2024, with plans to repurchase $1.5 billion in shares in 2025 [30][33] - The company expects to close the acquisitions of Preqin and HPS in Q1 and mid-2025, respectively, adding approximately 2,300 new employees [28][29] Q&A Summary Question: Outlook for Money Motion and Asset Class Beneficiaries in 2025 - BlackRock expects continued momentum in ETFs, private markets, fixed income, and cash, with GIP contributing to organic growth [89][90] - The company sees opportunities in short-duration active fixed-income strategies and private credit, especially in a supportive market environment [94][95] Question: Prospects for Alts in the US Retirement Channel - BlackRock is exploring ways to integrate private markets into target date funds and managed accounts, pending regulatory reforms [106][109] - The acquisition of Preqin is expected to enhance data and analytics, potentially enabling broader adoption of alternatives in retirement accounts [113][114] Question: Client Conversations Post-HPS Acquisition - Client feedback on the HPS acquisition has been positive, with insurance and private wealth channels identified as key growth areas [120][121] - BlackRock sees significant potential to expand private credit offerings globally, leveraging its relationships and technology platforms [122][124] Question: Expense Guidance and Margin Outlook for 2025 - Core G&A expense is expected to grow mid-to-high single digits, excluding HPS, with margin expansion driven by market movements and disciplined budgeting [133][135] Question: Fixed-Income Flows and Investor Allocations - Investors are underallocated to fixed income, with potential for increased allocations to intermediate and longer-duration bonds as rates stabilize [142][143] - BlackRock saw $164 billion in fixed-income flows in 2024, driven by demand across ETFs, index, and active strategies [144] Question: Retail Market for Alternatives and 401(k) Adoption - BlackRock is innovating with managed models and evergreen funds to simplify access to private markets for retail investors [159][161] - The company is working on integrating semi-liquid products and private markets into its $300 billion managed models and SMA franchise [164] Question: Capital Allocation and Share Repurchases - BlackRock prioritizes investing in the business for organic growth, followed by dividends and share repurchases, with $4.7 billion returned to shareholders in 2024 [174][176]

BlackRock’s (BLK) fourth-quarter 2024 adjusted earnings of $11.93 per share surpassed the Zacks Consensus Estimate of $11.44. The figure reflects a rise of 23.5% from the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Shares of BLK are trending almost 2.8% higher in the pre-market trading session today on the back of solid improvement in assets under management (AUM) balance, which drove the quarterly performance.The results benefited from a rise in revenues. AUM w ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

BlackRock reported strong fourth-quarter earnings with net income jumping 29% year over year.Investment management giant BlackRock (BLK 3.10%) reported fourth-quarter and full-year earnings on Wednesday, Jan. 15, that topped analysts' consensus estimates on both top and bottom lines. BlackRock's adjusted earnings per share (EPS) for the quarter hit $11.93, rising 23.5% year over year. Total revenue for the quarter came in at $5.68 billion, surpassing the expected $5.57 billion. With impressive growth in ass ...

For the quarter ended December 2024, BlackRock Finance (BLK) reported revenue of $5.68 billion, up 22.6% over the same period last year. EPS came in at $11.93, compared to $9.66 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $5.56 billion, representing a surprise of +2.16%. The company delivered an EPS surprise of +5.86%, with the consensus EPS estimate being $11.27.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

BlackRock Finance (BLK) came out with quarterly earnings of $11.93 per share, beating the Zacks Consensus Estimate of $11.27 per share. This compares to earnings of $9.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.86%. A quarter ago, it was expected that this investment firm would post earnings of $10.42 per share when it actually produced earnings of $11.46, delivering a surprise of 9.98%.Over the last four quarters, t ...

If you haven’t noticed, BlackRock — yes, that BlackRock — is going unwoke. It’s also going far from broke, On The Money has learned.Wednesday before the bell, the big-money management firm, the world largest in fact, will report both its fourth quarter earnings and those for the entire year.Both are likely to depict that its business is running at full tilt, my sources on Wall Street tell me.Confluence doesn’t necessarily equate concurrence, of course. But it’s remarkably obvious that at a time when BlackRo ...

Executive Departure - Mark Wiedman, a top BlackRock executive and potential successor to CEO Larry Fink, is leaving the firm to pursue opportunities outside [1][3][6] - Wiedman will stay through the spring to assist with the transition [1] - His departure comes a day before BlackRock's Q4 earnings report [7] Wiedman's Background - Wiedman has been with BlackRock for two decades, joining from the US Treasury Department [2] - He played a key role in the growth of BlackRock's ETF business, iShares, and helped establish the firm's consulting arm, FMA [2] CEO Succession - Rob Goldstein, BlackRock's COO, is also considered a potential successor to Fink [4] - Other candidates include CFO Martin Small and Asia-Pacific head Rachel Lord [4] BlackRock's Growth Strategy - CEO Larry Fink has been focused on expanding BlackRock's presence in private markets [5] - In 2024, BlackRock announced three major acquisitions, including the purchase of HPS Investment Partners, a private credit firm managing $148 billion [5] - Fink has been more vocal about growth plans than succession planning [7]

BlackRock's Growth and Leadership - Mark Wiedman played a key role in driving BlackRock's growth in passive investing, with assets under management increasing from $500 billion to $1.7 trillion from 2011 to 2019 [1] - Wiedman joined BlackRock in 2004 and led the firm's emergency assistance efforts during the financial crisis [1] - Wiedman, a senior executive with over 20 years at BlackRock, is leaving the company after serving as head of the global client business for the past two years [3] BlackRock's Market Position and Acquisitions - BlackRock is the world's largest asset manager, with a record $11.5 trillion in assets under management in Q4 [2] - The company made two major acquisitions in 2023 to expand in private credit and alternatives: HPS Investment Partners for $12 billion and Global Infrastructure Partners for $12.5 billion [2] Leadership Transition - Wiedman was considered a potential successor to CEO Larry Fink [3]

Bayo Ogunlesi, Chairman, Global Infrastructure Partners listens as US President Donald Trump speaks during a strategic and policy discussion with CEOs in the State Department Library in the Eisenhower Executive Office Building on April 11, 2017 in Washington, DC.OpenAI said Tuesday that Adebayo Ogunlesi, a senior managing director at BlackRock, is joining the startup's board of directors, the latest announcement in the company's move toward a for-profit structure.Ogunlesi is a founding partner of Global Inf ...