The investment company published its Q1 2026 results today before the market open. The CEO notes that this is one of the best starts to a year in the company’s history. The shares are up ~3% in after-hours trading.
It is difficult to find signs of concern about the condition of the private equity/private credit market in the company’s reports.
Key financial highlights:
- Revenue: USD 6.7 billion vs. expectations of around USD 6.4 billion
- Operating income: up 31% to USD 2.67 billion
- Operating margin: up to 44.5%
- EPS: USD 12.53 vs. expectations of around USD 11.5
- Assets under management (AUM): up 27% to USD 13.89 trillion
- Net inflows: USD 130 billion
- Organic base fee growth: up 10%
Management emphasizes the scale, momentum, and quality of AUM growth, which is intended to alleviate market concerns about risks to the company stemming, among other things, from the private equity/private credit segment. Despite worries about the suspension or limitation of redemptions from PE/PC-type funds/products, net inflows to the company over the last 12 months amounted to as much as USD 744 billion.
The first quarter of 2026 was a record in the history of the company’s ETF products. The “Aladdin” investment management platform also appears to be performing very well, with subscription revenue up 22% year over year. From a financial standpoint, everything indicates that the current quarter is the second best in the company’s history; the previous quarter was the best.
BLK.US (D1)
At the low of the latest sell-off, the stock fell as much as 22% from its peak; however, buyers managed to defend the trend line, and the price appears to be returning to an upward move. Source: xStation5
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