BlackRock rallies 7% as assets hit USD15.3 trillion

The news: BlackRock shares jumped 7% on Thursday after the world’s largest asset manager reported a 22% rise in assets under management and a 20% boost to quarterly profits.

The numbers: BlackRock’s assets under management reached USD15.3 trillion in the second quarter, up from USD12.5 trillion a year earlier. Revenue rose 31%, while net profit increased 20% to USD1.9 billion. The results beat analysts’ average estimates compiled by Bloomberg.

Chair and CEO Larry Fink said the firm recorded USD192 billion of net inflows during the quarter, generating organic base fee growth of 10%, well ahead of its target.

What he said: “Our conviction in the growth ahead for BlackRock led us to increase our planned level of 2026 share repurchases to $2 billion,” Fink said.