BlackRock, Inc. has announced its financial results for the year ending December 31, 2024. The company reported a full-year diluted earnings per share (EPS) of $42.01, or $43.61 when adjusted. For the fourth quarter of 2024, BlackRock's diluted EPS stood at $10.63, or $11.93 as adjusted.
The firm's assets under management (AUM) reached $11.6 trillion following a record net inflow of $641 billion for the year, which includes $281 billion in the fourth quarter alone.
BlackRock experienced a 14% increase in full-year revenue driven by market impacts on average AUM, organic base fee growth, and fees from AUM acquired through the GIP Transaction. Additionally, there was an increase in performance fees and technology service revenue.
Operating income rose by 21% for the full year and by 23% when adjusted. The company's full-year diluted EPS increased by 15%, reflecting lower non-operating income and a higher effective tax rate compared to previous years.
In terms of shareholder returns, BlackRock returned $4.7 billion to shareholders in 2024, which included share repurchases amounting to $1.6 billion.
Furthermore, BlackRock previously announced an agreement to acquire HPS Investment Partners with plans to create an integrated private credit franchise managing approximately $220 billion in pro-forma client assets.