🔹Revenue: $5.42B (Est. $5.46B) 🟡; UP +13% YoY
🔹 Adj EPS: $12.05 (Est. $10.91) 🟢; UP +16% YoY
🔹 AUM: $12.53T; UP +18% YoY
🔹 Total Net Flows: $68B; DOWN -17% YoY
🔹 Long-Term Net Flows: $46B; DOWN -64% YoY
Segment / Revenue Breakdown
🔹 Base Fees: $4.28B; UP +15% YoY
🔹 Securities Lending Revenue: $171M; UP +11% YoY
🔹 Tech Services & Subscription Revenue: $499M; UP +26% YoY
🔹 Performance Fees: $94M; DOWN -43% YoY
🔹 Distribution Fees: $320M; UP +1% YoY
Other Key Q2 Metrics:
🔹 Net Income (Adj.): $1.88B; UP +21% YoY
🔹 Operating Income (Adj.): $2.10B; UP +12% YoY
🔹 Operating Margin (Adj.): 43.3% vs 44.1% YoY
Flows by Product
🔹 iShares ETFs: +$85B
🔹 Active: +$11B
🔹 Digital Assets: +$14B
🔹 Cash Management: +$22B
🔹 Institutional Index: -$48B
Flows by Client Type
🔹 Retail: +$2B
🔹 ETFs: +$85B
🔹 Institutional: -$41B
AUM Composition
🔹 Equity AUM: $6.91T
🔹 Fixed Income AUM: $3.09T
🔹 Multi-Asset AUM: $1.08T
🔹 Alternatives AUM: $302B
🔹 Cash Management AUM: $970B
Operating Metrics
🔹 Dividend: $5.21/share
🔹 Share Repurchase: $375M
🔹 Effective Tax Rate (Adj.): 24.8%
🔹 Diluted Shares Outstanding: 156.3M; UP +4% YoY
CEO Larry Fink Commentary
🔸 “We generated 6% organic base fee growth in Q2 and 7% over the last twelve months.”
🔸 “iShares ETFs had a record first half in flows, and tech ACV growth hit 16%.”
🔸 “We surpassed the fundraising target for GIP’s fifth flagship, raising $25.2B.”
🔸 “Our comprehensive platform and depth of client relationships set us apart from traditional or private markets firms.”
🔸 “These are just the early days in our next phase of even stronger growth.”
