BlackRock, Inc.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
BLK$1,222.15+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| (in millions, except per share data) | 2025 | 2024 | 2025 | 2024 |
| Revenue | ||||
| Investment advisory, administration fees and securities lending revenue: | ||||
| Investment advisory and administration fees | $4,843 | $3,881 | $13,370 | $11,229 |
| Securities lending revenue | 203 | 149 | 531 | 454 |
| Total investment advisory, administration fees and securities lending revenue | 5,046 | 4,030 | 13,901 | 11,683 |
| Investment advisory performance fees | 516 | 388 | 670 | 756 |
| Technology services and subscription revenue | 515 | 403 | 1,450 | 1,175 |
| Distribution fees | 355 | 323 | 996 | 951 |
| Advisory and other revenue | 77 | 53 | 191 | 165 |
| Total revenue | 6,509 | 5,197 | 17,208 | 14,730 |
| Expense | ||||
| Employee compensation and benefits | 2,357 | 1,578 | 5,862 | 4,661 |
| Sales, asset and account expense: | ||||
| Distribution and servicing costs | 638 | 549 | 1,784 | 1,606 |
| Direct fund expense | 464 | 379 | 1,297 | 1,075 |
| Sub-advisory and other | 60 | 34 | 153 | 98 |
| Total sales, asset and account expense | 1,162 | 962 | 3,234 | 2,779 |
| General and administration expense | 782 | 562 | 2,182 | 1,625 |
| Restructuring charge | — | — | 39 | — |
| Amortization and impairment of intangible assets | 253 | 89 | 507 | 166 |
| Total expense | 4,554 | 3,191 | 11,824 | 9,231 |
| Operating income | 1,955 | 2,006 | 5,384 | 5,499 |
| Nonoperating income (expense) | ||||
| Net gain (loss) on investments | 64 | 177 | 672 | 510 |
| Interest and dividend income | 113 | 236 | 430 | 555 |
| Interest expense | (135) | (154) | (474) | (372) |
| Net interest income (expense) | (22) | 82 | (44) | 183 |
| Total nonoperating income (expense) | 42 | 259 | 628 | 693 |
| Income before income taxes | 1,997 | 2,265 | 6,012 | 6,192 |
| Income tax expense | 470 | 574 | 1,305 | 1,341 |
| Net income | 1,527 | 1,691 | 4,707 | 4,851 |
| Less: | ||||
| Net income (loss) attributable to NCI - CIPs | 134 | 60 | 211 | 152 |
| Net income (loss) attributable to NCI - Subco | 70 | — | 70 | — |
| Net income attributable to BlackRock, Inc. | $1,323 | $1,631 | $4,426 | $4,699 |
| Earnings per share attributable to BlackRock, Inc. common stockholders: | ||||
| Basic | $8.54 | $11.02 | $28.57 | $31.67 |
| Diluted | $8.43 | $10.90 | $28.21 | $31.37 |
| Weighted-average common shares outstanding: | ||||
| Basic | 154.9 | 148.0 | 154.9 | 148.4 |
| Diluted | 165.2 | 149.6 | 159.4 | 149.8 |
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