BlackRock Inc. (NYSE:BLK) stock rose Wednesday after the world’s largest asset manager reported second-quarter results that topped Wall Street expectations, driven by record assets under management, inflows, revenue and earnings.
The company also said it repurchased $450 million of stock during the quarter and increased its quarterly share repurchase authorization to $550 million, lifting its planned 2026 share repurchases to $2 billion.
Revenue, Earnings Beat Estimates
Second-quarter revenue increased 31% year over year to $7.08 billion, exceeding the analyst consensus estimate of $6.70 billion.
Adjusted operating income rose 39% to $2.92 billion, while adjusted operating margin expanded to 45.9% from 43.3% a year earlier, marking the company’s highest level in nearly five years.
