Filing Flows › BlackRock (BLK) › Q1 2026
BlackRock (BLK) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
BlackRock (BLK) reported revenue of $6.7B for the first quarter 2026 (Q1 2026), +27% from a year earlier and -4% from the quarter before. Operating margin was 42.0%, net earnings $2.2B (33.0% of revenue).
BlackRock, Q1 2026: revenue $6.7B (+27% year over year), operating margin 42.0%, net earnings $2.2B, operating cash flow −$980M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.7B | -4% | +27% |
| Operating profit | $2.8B | +69% | +66% |
| Net earnings | $2.2B | +96% | +46% |
| Operating cash flow | −$980M | -143% | — |
What changed
Revenue was $6.7B in Q1 2026, up 27% year over year and down 4% from the previous quarter. Investment Advice was the largest line at 81% of revenue. Investment Advice added $1.0B year over year (up 24%), 73% of the total change.
Operating profit was $2.8B, a 42.0% margin (up 9.8 points year over year). Of the extra revenue versus a year earlier, 78% reached operating profit, above the 32% margin then. Total costs grew 9% against revenue growth of 27%. Net earnings were $2.2B, up 46% year over year. The effective tax rate was 18.2%.
Operating cash flow was −$1.0B. Non-cash charges added back $0.38B of depreciation and amortization and $0.32B of share-based compensation. Working capital and other items used $4.0B. Capital expenditures of $0.11B exceeded it, leaving free cash flow of −$1.1B.
Questions
What was BlackRock's revenue in the first quarter 2026?
BlackRock (BLK) reported revenue of $6.7B for the first quarter 2026 (Q1 2026), +27% from a year earlier and -4% from the quarter before.
Was BlackRock profitable in the first quarter 2026?
Operating profit was $2.8B (42.0% of revenue) and net earnings $2.2B.
Source: BlackRock 10-Q on SEC EDGAR.