BlackRock Inc. gained 1.7% to $1,100.54 after the global investment management company reported a 13% rise in its earnings in the latest quarter.
Consolidated revenue in the quarter increased to $5.4 billion from $4.8 billion, net income jumped to $1.7 billion from $1.5 billion, and diluted earnings per share rose 2% to $10.19 from $9.99 a year ago.
A 13% increase in annual revenue was driven by the positive impact of markets, organic base fee growth, and fees related to the GIP transaction, as well as higher technology services and subscription revenue, partially offset by lower performance fees.
On July 1st, the company completed the purchase of HPS Investment Partners, which added $165 billion in client assets under management and $118 billion in fee-paying assets.
The asset management company's long-term net inflows decreased 9.8% from a year ago to $46 billion in the quarter because of a $52 billion outflow of a lower-fee index fund by the client.
Chairman and CEO Laurence D. Fink said, “Our expanding client relationships are resonating in higher, more diversified organic base fee growth. We generated 6% organic base fee growth for the second quarter and the first half of 2025 and 7% over the last twelve months."
The company's assets under management increased to $12.5 trillion.
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