BlackRock reported a $13.46tn in assets under management in the third quarter of 2025, marking a 17% increase from the $11.47tn recorded during the same period in the previous year.
The asset manager saw its adjusted net income rise to $1.9bn, up by 11% from the $1.7bn reported in the corresponding quarter of the prior year.
Adjusted diluted earnings per share in the quarter experienced a slight increase of 1% year-over-year to $11.55, reflecting a mix of lower nonoperating income, an uptick in the diluted share count, and a reduction in the effective tax rate.
A key contributor to BlackRock’s growth was the inflow of $205bn in the quarter, with iShares ETFs experiencing a record-setting period.
The firm also reported a 10% annualised organic base fee growth during the quarter, indicating strong performance across various segments, including iShares ETFs, systematic active equities, private markets, outsourcing, and cash management.
Revenue for the quarter stood at $6.5bn, a 25% increase from the year prior, with the firm attributing this to the favourable market conditions.
As for operating income, the company saw a 23% year-over-year rise, reaching $2.6bn after adjustments.
During the same period, BlackRock repurchased $375m worth of shares.
BlackRock CEO Laurence Fink said: “BlackRock is always preparing for the future, investing ahead of client needs and in support of deepening capital markets. Technology and data analytics, ETFs, private markets, and digital assets are just a few examples where we invested and built leading positions.
“We’re executing on some of the largest and most multifaceted mandates in our history, as clients choose BlackRock for portfolio management and technology across the full range of capital markets. We’re entering our seasonally strongest fourth quarter with building momentum and a fully unified platform. One that’s anchored by a public-private investment model, backed by Aladdin technology, and united by a shared culture of performance and client service.
During the third quarter, its strategic developments included the completion of the $12bn acquisition of HPS Investment Partners on 1 July 2025, which added $165bn in client AUM and $118bn in fee-paying AUM to BlackRock’s portfolio.
Additionally, BlackRock expanded its wealth management services through an agreement with Citi to manage about $80bn in wealth assets.
The firm also strengthened its leadership structure by bringing 20 new executives onto its committee, aiming to propel market value growth over a five-year horizon.
