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.
Disclaimer
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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 in upward trend: 10-day moving average broke above 50-day moving average on October 22, 2026
The 10-day moving average for BLK crossed bullishly above the 50-day moving average on October 22, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 11 of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 73%.
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 38 of 75 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 51%.
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 25 of 46 cases over the following month. The odds of a continued upward trend are 54%.
BLK moved above its 50-day moving average on October 15, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +2.22% 3-day Advance, the price is estimated to grow further. Considering data from situations where BLK advanced for three days, in 194 of 338 cases, the price rose further within the following month. The odds of a continued upward trend are 57%.
The Aroon Indicator entered an Uptrend today. In 142 of 293 cases where BLK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 48%.
Bearish Trend Analysis
The 10-day RSI Indicator for BLK moved out of overbought territory on October 22, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 37 similar instances where the indicator moved out of overbought territory. In 20 of the 37 cases, the stock moved lower in the following days. This puts the odds of a move lower at 54%.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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%.
BLK broke above its upper Bollinger Band on October 15, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 36 (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 49 (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 PE Growth Rating for this company is 53 (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 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 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.
The Tickeron Valuation Rating of 90 (best 1 - 100 worst) indicates that the company is significantly 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 (3.006) is normal, around the industry mean (2.409). P/E Ratio (26.386) is within average values for comparable stocks, (-3.173). Projected Growth (PEG Ratio) (0.898) is also within normal values, averaging (1.319). Dividend Yield (0.020) settles around the average of (0.271) among similar stocks. P/S Ratio (6.270) is also within normal values, averaging (15.798).
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