BlackRock (BLK) Q2 FY2026 earnings: revenue $7.1 billion, up 30.6% on the year

BlackRock, Inc. (BLK) reported revenue of $7.1 billion for Q2 FY2026, the quarter ended 30 June 2026, up 30.6% on the same quarter a year earlier. Net income was $1.9 billion, up 20.2% on the year, and diluted earnings per share $12.19. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue

$7.1 billion

+30.6% on the year · +5.8% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

34.7%

31.9% a year earlier

Q3 FY2024Q2 FY2026

Net income

$1.9 billion

+20.2% on the year · -13.5% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$12.19

+19.6% on the year · -13.3% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised.

Revenue up 31% year-over-year: Total revenue was $7,084 million, up from $5,423 million. Management cited the positive impact of markets, organic base fee growth, HPS-related fees, higher performance fees and technology revenue.
Operating income up 42%: GAAP operating income was $2,461 million, up 42%. As adjusted operating income was $2,916 million, up 39%.
Diluted EPS up 20%, 15% adjusted: GAAP diluted EPS was $12.19 against $10.19, and $13.91 as adjusted against $12.05. Management said the growth also reflects lower nonoperating income and a higher diluted share count.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	7,084	6,698	5,423	+5.8%	+30.6%
Operating income	2,461	2,814	1,731	-12.5%	+42.2%
Operating margin	34.7%	42.0%	31.9%
Interest expense	134	134	173	0.0%	-22.5%
Pre-tax income	2,719	2,842	2,252	-4.3%	+20.7%
Income tax	677	516	587	+31.2%	+15.3%
Effective tax rate	24.9%	18.2%	26.1%
Net income	1,914	2,212	1,593	-13.5%	+20.2%
Net margin	27.0%	33.0%	29.4%
Diluted EPS	$12.19	$14.06	$10.19	-13.3%	+19.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	1,227	-980	1,364		-10.0%
Capital expenditure	109	106	89.0	+2.8%	+22.5%
Free cash flow	1,118	-1,086	1,275		-12.3%
Free cash flow margin	15.8%	-16.2%	23.5%
Cash from investing	-460	-280	53.0
Cash from financing	-117	-304	26.0
Depreciation and amortisation	385	380	217	+1.3%	+77.4%
Share-based compensation	302	319	226	-5.3%	+33.6%
Buybacks	n/a	n/a	396
Dividends paid	n/a	n/a	808
Dividend per share	$5.73	$5.73	$5.21	0.0%	+10.0%
Diluted shares, weighted	165m	165m	156m	-0.2%	+5.4%
Shares outstanding at period end	155m	155m	155m	-0.2%	+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	57,613	56,688	49,141	+1.6%	+17.2%
Non-controlling interest	227	217	165	+4.6%	+37.6%
Redeemable equity	n/a	n/a	2,296
Debt	12,744	12,749	12,762	-0.0%	-0.1%
Other liabilities	105,291	100,583	82,106	+4.7%	+28.2%
Total liabilities and equity	175,875	170,237	146,470	+3.3%	+20.1%
Fixed assets	1,305	1,279	1,159	+2.0%	+12.6%
Goodwill	35,203	35,296	28,328	-0.3%	+24.3%
Intangible assets	27,415	27,691	21,677	-1.0%	+26.5%
Securities held for sale or to maturity	487	495	551	-1.6%	-11.6%
Cash and equivalents	10,492	9,841	9,478	+6.6%	+10.7%
Other assets	100,973	95,635	85,277	+5.6%	+18.4%
Total assets	175,875	170,237	146,470	+3.3%	+20.1%

Questions

What was BlackRock's revenue in Q2 FY2026?

BlackRock (BLK) reported revenue of $7.1 billion for Q2 FY2026, the quarter ended 30 June 2026, up 30.6% on the same quarter a year earlier.

How much did BlackRock earn in Q2 FY2026?

Net income for Q2 FY2026 was $1.9 billion, up 20.2% on the year, and diluted earnings per share $12.19.

When did BlackRock report Q2 FY2026 results?

BlackRock filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 6 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	5,106	4,699	4,526	4,311	4,337	4,243	4,463	4,522	4,631	4,728	4,805	5,197	5,677	5,276	5,423	6,509	7,008	6,698	7,084	7,752
Operating income	2,039	1,764	1,668	1,526	1,427	1,438	1,615	1,637	1,585	1,693	1,800	2,006	2,075	1,698	1,731	1,955	1,661	2,814	2,461	2,328
Operating margin	40%	38%	37%	35%	33%	34%	36%	36%	34%	36%	37%	39%	37%	32%	32%	30%	24%	42%	35%	30%
Interest expense	50.0	54.0	54.0	50.0	54.0	59.0	69.0	82.0	82.0	92.0	126	154	166	166	173	135	140	134	134	134
Pre-tax income	2,110	1,626	1,321	1,691	1,652	1,554	1,866	1,808	1,927	1,913	2,014	2,265	2,103	1,763	2,252	1,997	1,607	2,842	2,719	2,644
Tax rate	23%	16%	27%	20%	21%	25%	24%	12%	23%	15%	24%	25%	21%	14%	26%	24%	23%	18%	25%	27%
Net income	1,643	1,436	1,077	1,406	1,259	1,157	1,366	1,604	1,375	1,573	1,495	1,631	1,670	1,510	1,593	1,323	1,127	2,212	1,914	1,659
Net margin	32%	31%	24%	33%	29%	27%	31%	35%	30%	33%	31%	31%	29%	29%	29%	20%	16%	33%	27%	21%
Diluted EPS	$10.64	$9.35	$7.06	$9.25	$8.31	$7.64	$9.06	$10.66	$9.15	$10.48	$9.99	$10.90	$10.64	$9.64	$10.19	$8.43	$7.16	$14.06	$12.19	$10.57
Operating cash flow	1,917	-422	1,645	1,760	1,973	-394	985	1,576	1,998	-408	1,365	1,381	2,618	-1,128	1,364	1,414	2,277	-980	1,227	2,706
Capital expenditure	126	147	116	136	134	81.0	61.0	78.0	124	64.0	7.0	94.0	90.0	78.0	89.0	78.0	130	106	109	101
Free cash flow	1,791	-569	1,529	1,624	1,839	-475	924	1,498	1,874	-472	1,358	1,287	2,528	-1,206	1,275	1,336	2,147	-1,086	1,118	2,605
Buybacks	303	936	507	384	505	721	383	396	384	634	519	391	386	657	396	n/a	n/a	n/a	n/a	n/a
Dividends paid	627	786	737	736	731	796	748	748	743	795	758	757	791	838	808	n/a	n/a	n/a	n/a	n/a
Shares outstanding	152m	152m	151m	150m	150m	150m	149m	149m	149m	149m	148m	148m	155m	155m	155m	155m	155m	155m	155m	155m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 6 August 2026: the filing.