BlackRock surpassed $15.3 trillion in assets under management in the second quarter, with AUM up 22% year over year. Revenue rose 31% to $7 billion, while adjusted operating income grew 42% to $2.92 billion, lifting adjusted operating margin to 45.9%, its highest in nearly five years. The company's shift toward higher-margin alternative and active strategies is paying off: private markets and alternatives account for only 3% of AUM but 15% of base fees, while active strategies represent 24% of AUM and 42% of total fees. Technology subscription revenue climbed 13% to $566 million, and BlackRock updated its share buyback target to $2 billion.
BlackRock IncAUM up 22%, revenue +31%, operating margin at five-year high, and buyback target raised to $2B.
