- BlackRock reported adjusted earnings of $15.93 per share in Q3 2026, up 38% year over year, exceeding analysts’ expectations of approximately $14.13-$14.25.
- Morgan Stanley maintained its Overweight rating with a revised $1,468 target, while Wells Fargo retained Overweight with a $1,230 target.
- BlackRock’s assets under management reached a record $15.49 trillion after $205 bn in quarterly net inflows, supporting analysts’ positive longer-term outlook.
BlackRock (NYSE: BLK) exceeded Wall Street earnings expectations on October 14, 2026, reporting stronger revenue, higher adjusted profits and record assets under management.
The results provide fresh support for analysts’ generally positive BlackRock stock price forecasts, although several investment banks reduced their targets before the earnings release.
The world’s largest asset manager reported adjusted earnings per share of $15.93 for the third quarter, compared with $11.55 a year earlier. Revenue increased 19% to approximately $7.75 bn, above pre-earnings expectations of $7.56 bn and the $6.51 bn recorded in the prior-year period.
Net client inflows reached $205 bn during the quarter, lifting assets under management to $15.49 trillion, up 15% year over year.
BlackRock attracted $869 bn in net inflows over the preceding 12 months, reflecting continued demand across iShares ETFs, active investment strategies and private markets.
Morgan Stanley maintained its Overweight rating on BlackRock but reduced its 12-month price target from $1,479 to $1,468 on October 13, reflecting updated third-quarter iShares flows and market performance.
Wells Fargo also retained an Overweight rating, lowering its target from $1,245 to $1,230 on October 8. The bank continues to view BlackRock’s valuation favorably relative to its operating performance.
Other major investment banks maintained positive ratings. Barclays set a $1,420 target with an Overweight rating, JPMorgan maintained Overweight with a $1,435 target, and UBS assigned a Buy rating with a revised $1,277 target. Evercore ISI reiterated Outperform with a $1,275 target, while TD Cowen maintained Hold and raised its target to $1,212.
The average Wall Street 12-month price target stood at approximately $1,316 as of October 14, implying roughly 23% upside from BlackRock’s October 13 closing price of $1,066.12. These targets largely preceded the latest earnings announcement.
BlackRock shares initially climbed above $1,100 following the results, before retreating during regular trading. On October 14, the stock traded in an intraday range of approximately $1,065 to $1,106.
The earnings report provides support for analysts’ positive forecasts. BlackRock’s adjusted operating income increased 27% year over year, while technology services and subscription revenue grew 14%, supported by its Aladdin investment technology business. The company also repurchased $550 mn of shares during the quarter.
The principal considerations for BlackRock’s stock outlook remain client inflows, fee growth, equity market performance and expansion in private markets.
Higher interest rates and market volatility could affect asset valuations and investment flows, although the latest results demonstrate continued growth across the company’s major businesses.
BlackRock reported stronger-than-expected third-quarter 2026 financial results, with revenue increasing 19% year over year to $7.75 bn, above Wall Street’s consensus estimate of $7.52 bn.
Adjusted operating income rose 27% to $3.33 bn, while the adjusted operating margin improved to 47.8%, compared with 44.6% in the same quarter last year. Adjusted earnings per share reached $15.93, exceeding analysts’ expectations of $14.13.
Investment advisory, administration fees and securities lending revenue increased to $6.04 bn from $5.05 bn a year earlier. Growth was supported by an 11% annualized organic increase in base fees and favorable market movements affecting average assets under management (AUM).
Securities lending revenue climbed to $253 mn from $203 mn, reflecting wider lending spreads and higher average balances of securities on loan.
Investment advisory performance fees increased to $630 mn from $516 mn. The improvement was primarily driven by liquid alternatives, particularly one hedge fund with an annual performance measurement period ending in the third quarter.
BlackRock’s technology services and subscription revenue rose to $588 mn from $515 mn, supported by demand for Aladdin investment technology and multiproduct solutions. Annual contract value increased 12% year over year.
The asset manager attracted $205 bn in net inflows during the quarter and $869 bn over the preceding 12 months. Active investment strategies generated $66 bn in quarterly inflows, led by fixed income and systematic strategies, while iShares ETFs attracted $135 bn.
Total AUM increased 15% year over year to $15.49 trillion. Average AUM reached $15.46 trillion, representing 19% annual growth. BlackRock also repurchased $550 mn of its shares during the quarter.
Chief Executive Officer Laurence Fink said the company raised $68 bn across private markets over the past 12 months. Its AI Infrastructure Partnership also completed its first investment during the third quarter.
Fink attributed BlackRock’s organic growth to its position as a global investment adviser and destination for institutional and individual capital.
Looking ahead to the fourth quarter, traditionally the company’s strongest seasonal period, Fink pointed to a broad pipeline of opportunities in whole-portfolio investment solutions, private markets, retirement products and international distribution platforms.
He also expressed confidence in BlackRock’s long-term growth prospects, citing increasing global demand for capital and the company’s ability to deliver investment solutions across multiple asset classes.
BlackRock shares rose 3.18% to $1,100 in Wednesday’s premarket trading following the earnings announcement, according to Benzinga Pro data.
