Summary by Moomoo AI
BlackRock reported strong Q2 2024 results with diluted EPS of $9.99, or $10.36 as adjusted. Total net inflows were $82 billion, driving 3% organic base fee growth. Assets under management reached $10.6 trillion, up $1.2 trillion year-over-year.Revenue increased 8% year-over-year to $4.8 billion, driven by positive market impacts on average AUM, organic base fee growth, and higher performance fees. Operating income rose 11% to $1.8 billion, with operating margin expanding 160 basis points to 44.1% as adjusted.BlackRock continues to execute on growth opportunities across private markets, Aladdin, and whole portfolio solutions. The company is on track to close its acquisition of Global Infrastructure Partners in Q3 2024 and recently announced plans to acquire Preqin, enhancing its private markets capabilities. CEO Larry Fink expressed confidence in accelerating momentum with clients and delivering differentiated growth for shareholders.
