New York – BlackRock, Inc. (NYSE: BLK) today reported financial results for the three and six months ended June 30, 2021.
$81 billion of quarterly total net inflows, driven by continued momentum across the platform, reflect a previously announced $58 billion low-fee institutional index outflow related to a single client
$63 billion of active net inflows, once again positive across all product types, including equity, fixed income, multi-asset and alternatives
32% increase in revenue year-over-year reflects significant market gains as well as strong organic growth, higher performance fees and 14% growth in technology services revenue
37% increase in operating income year-over-year
14% increase in diluted EPS (28% as adjusted) year-overyear also reflects lower nonoperating income and a higher effective tax rate in the current quarter
Consistent capital management with $300 million of quarterly share repurchases
Laurence D. Fink, Chairman and CEO:
“BlackRock’s comprehensive investment and technology platform continues to evolve ahead of our clients’ needs. Strong annualized organic base fee growth of 10% in the second quarter was driven by our top-performing active platform and industry-leading iShares ETF franchise. We also delivered 14% year-over-year growth in technology services revenue.
“Our longstanding approach to invest for the future positions our platform to better serve clients and generate more consistent organic growth. In sustainability, we are investing in products, data and analytics and technology to help investors capture the opportunity and manage the risks presented by sustainable factors. This is resonating with our clients and we generated $35 billion of sustainable net inflows in the quarter. Through our wealth and ETF businesses, we are driving the democratization of personalized portfolios at scale. And we are bringing together the breadth of our investment platform, portfolio construction expertise and Aladdin technology to serve clients’ whole portfolios in a way that no other asset manager can.
“Our commitment to helping more and more people experience financial well-being guides our long-term strategy and how we use our voice on behalf of our stakeholders. We will continue to invest and evolve so we can deliver value for our clients, employees, shareholders and the communities where we operate.” (BlackRock/mc/ps)