BlackRock (BLK) Delivers Strong Q3 2026 Results with +19% Revenue Growth
Key Takeaways
- BlackRock reported third quarter 2026 revenue of $7.75 billion, up 19% year over year and above the FactSet consensus estimate of $7.42 billion.
- Adjusted earnings per share (EPS, or profit per share) reached $15.93, up 38% and ahead of the $14.32 analyst consensus; GAAP (generally accepted accounting principles) diluted EPS was $10.57.
- Assets under management (AUM, the total value of client money the firm oversees) climbed to $15.5 trillion, supported by $205 billion of quarterly net inflows.
- Adjusted operating income rose 27% to $3.33 billion, with adjusted operating margin expanding to 47.8%, up 320 basis points year over year.
- Technology services and subscription revenue grew 14% to $588 million, and BlackRock repurchased $550 million of its own shares during the quarter.
Why These Earnings Matter
BlackRock is the world's largest asset manager, and its quarterly results are widely watched as a barometer for the broader investment industry. This report carried added weight because it represents one of the clearest views yet of the earnings power of its integrated platform, following the integration of GIP (Global Infrastructure Partners), HPS, and Preqin. Investors were looking for confirmation that BlackRock's strategy — pairing public and private markets with its Aladdin technology franchise — is translating into durable growth. The company's results, including a ninth consecutive quarter of organic base fee growth at or above 5%, offered that confirmation and reinforced the firm's long-term "2030 plan" ambitions. From what I see, the breadth of inflows across multiple categories stands out as particularly encouraging.
Breaking Down the Reported Results
For the third quarter ended September 30, 2026, BlackRock posted revenue of $7.75 billion, a 19% increase from $6.51 billion a year earlier and above the $7.42 billion consensus. Adjusted EPS came in at $15.93, up 38% year over year and well ahead of the $14.32 analysts expected. On a GAAP basis, diluted EPS was $10.57, up 25%. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
The quarter's growth was broad-based. Net inflows of $205 billion translated into 11% annualized organic base fee growth, led by $135 billion into iShares exchange-traded funds (ETFs, which are baskets of securities that trade like stocks), $66 billion into active strategies, and $31 billion into cash management. Private markets added $15 billion of net inflows. Performance fees rose 22% to $630 million, while technology services and subscription revenue increased 14% to $588 million, with annual contract value (ACV) up 12%.
Adjusted operating income grew 27% to $3.33 billion, and the adjusted operating margin reached 47.8%, up from 44.6% a year earlier. Net income was $1.66 billion, compared with $1.32 billion in the prior-year quarter.
Market Reaction and Investor Sentiment
BlackRock (BLK) shares moved modestly higher following the report, with investors rewarding the combination of better-than-expected revenue and earnings, record AUM, and continued margin expansion. The market appeared to focus on the durability of the firm's growth, particularly the strength of higher-fee categories such as private markets, active ETFs, and systematic equities. Some observers noted that performance fees and non-operating investment gains contributed to the EPS beat, suggesting the headline growth rate may slightly overstate recurring momentum. Institutional index outflows of $27 billion — concentrated in low-fee index equities — also served as a reminder that product mix matters as much as total AUM.
Forward Outlook and Key Factors to Monitor
Looking ahead, BlackRock enters its seasonally strongest fourth quarter with significant momentum. Management reiterated a low- to mid-teens long-term growth outlook for ACV and said it continues to expect a mid-single-digit percentage increase in full-year G&A (general and administrative) expense after annualizing for HPS and Preqin. One thing that stands out is the consistency in fee growth across categories.
Investors will be watching several factors closely. The first is whether broad-based net inflows continue across ETFs, active strategies, private markets, and cash, and whether organic base fee growth can stay at or above recent levels. The second is the pace of private markets deployment, including private credit fundraising and infrastructure activity, which carry higher fee rates than index products.
Margin trajectory will also be a focal point, given the expansion delivered this quarter and management's expectation of continued operating leverage. Finally, capital returns remain in focus, with the company planning to repurchase at least $550 million of shares in the fourth quarter, subject to market conditions. The firm projected a tax rate of roughly 25% as a reasonable run rate for the fourth quarter. I'm watching this closely as the fourth quarter unfolds.
Using Tickeron’s AI Tools for Deeper Analysis
In my own research process, I frequently rely on Tickeron’s AI Screener to quickly filter opportunities in the asset management space and compare metrics like AUM growth and fee trends against peers. It helps surface ideas based on technical patterns, fundamentals, and AI-driven signals without spending hours on manual screens. This kind of tool has become a practical part of staying on top of evolving market conditions in the financial sector.
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Financial writer and active order flow futures trader with a focus on fundamental analysis, macroeconomic factors, and equity research. I make in-depth blogs on stocks and ETFs, bridging the gap between raw market data and real-world trading decisions.
BLK's RSI Oscillator ascending out of oversold territory
The RSI Indicator for BLK moved out of oversold territory on September 17, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 32 similar instances when the indicator left oversold territory. In 24 of the 32 cases the stock moved higher. This puts the odds of a move higher at 75%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 14, 2026. You may want to consider a long position or call options on BLK as a result. In 52 of 75 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 69%.
The Moving Average Convergence Divergence (MACD) for BLK just turned positive on September 25, 2026. Looking at past instances where BLK's MACD turned positive, the stock continued to rise in 28 of 47 cases over the following month. The odds of a continued upward trend are 60%.
Following a +1.74% 3-day Advance, the price is estimated to grow further. Considering data from situations where BLK advanced for three days, in 197 of 341 cases, the price rose further within the following month. The odds of a continued upward trend are 58%.
BLK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 34 of 64 cases where BLK's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 53%.
BLK moved below its 50-day moving average on September 09, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for BLK crossed bearishly below the 50-day moving average on September 15, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 5 of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 36%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BLK declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 56%.
The Aroon Indicator for BLK entered a downward trend on September 25, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 48 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 54 (best 1 - 100 worst), indicating steady price growth. BLK’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 56 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 82, placing this stock slightly better than average.
The Tickeron SMR rating for this company is 63 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 71 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.879) is normal, around the industry mean (3.263). P/E Ratio (25.671) is within average values for comparable stocks, (27.022). Projected Growth (PEG Ratio) (0.898) is also within normal values, averaging (1.319). Dividend Yield (0.021) settles around the average of (0.081) among similar stocks. P/S Ratio (6.270) is also within normal values, averaging (15.860).
The Tickeron Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
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