Summary by Moomoo AI
BlackRock reported strong Q2 2024 results, with assets under management (AUM) reaching $10.65 trillion, up 13% YoY. Revenue increased 8% to $4.81 billion, while net income rose 9% to $1.50 billion. Diluted EPS grew 10% to $9.99.The firm saw $81.6 billion in total net inflows, with ETFs contributing $83.1 billion. Investment advisory, administration fees and securities lending revenue rose 7% to $3.88 billion. Technology services revenue increased 10% to $395 million, reflecting sustained demand for Aladdin offerings.Operating income grew 11% to $1.80 billion, with operating margin expanding to 37.5%. BlackRock maintained a strong capital position, paying $5.10 per share in dividends. The company continues to invest in growth initiatives while navigating market volatility and geopolitical uncertainties.
