Slide 1: Q2 2024 Earnings
July 15, 2024 Q2 2024 Earnings Earnings Release Supplement
Slide 2: A broadly diversified business across clients, products and geographies
A broadly diversified business across clients, products and geographies Assets Under Management of $10.6 trillion at June 30, 2024 Q2 2024 Base Fees and Securities Lending Revenue of $3.9 billion Client Type Style Product Type Region Active Institutional 25% 30% Active 44% Equity Equity Institutiona
Slide 3: Net flows
Net flows ($ in billions) Total BlackRock Retail Long-term 5% 4% 3% 3% 4% 4% 3% 3% 3% 4% 2% (2)% (3)% (2)% (2)% (1)% 0% 0% 5% 2% 0% 0% 0% 1% 1% 1% 1% Long-term Cash Advisory $114 $110 $90 $8 $96 $82 $80 $57 $7 $6 $21 $17 $146 $33 $4 $23 $3 $30 $0.3 $103 $69 $65 $57 $15 $63 $76 $51 $(4) $(5) $(10) $(
Slide 4: Profitability
Profitability ($ in millions, except per share data) Operating Income and Margin, as adjusted Net Income and EPS, as adjusted $2,040 $10.91 $10.36 $2,700 $1,920 50.0% $9.66 $9.81 $2,600 $9.55 $9.28 $2,500 $1,800 $8.93 $2,400 43.7% 44.1% $2,300 42.5% 42.3% 45.0% $2,200 42.0% 41.2% 41.6% 42.2% $1,680
Slide 5: Capital management
Capital management (amounts in millions, except per share data) Share repurchases and weighted-average diluted shares Dividends per share 152.5 152.0 151.8 151.3 150.7 150.5 150.2 150.1 149.7 $5.10 $5.10 $5.00 $5.00 $5.00 $5.00 $500 $500 $500 $4.88 $4.88 $4.88 $375 $375 $375 $375 $375 $375 Q2 Q3 Q4
Slide 6: Major market indices and exchange rates
Major market indices and exchange rates % Change % Change Spot 6/30/2024 vs. Average Q2 2024 vs. 6/30/2023 3/31/2024 6/30/2024 3/31/2024 6/30/2023 Q2 2023 Q1 2024 Q2 2024 Q1 2024 Q2 2023 Equity Indices Domestic S&P 500 4,450 5,254 5,460 4% 23% 4,208 4,990 5,251 5% 25% Global MSCI Barra World Index 2
Slide 7: Quarterly revenue
Quarterly revenue ($ in millions) Percentage Change Year-over-Year Sequential 78% Base fees Base fees 9% 3% Securities lending revenue Securities lending revenue (16)% 2% Performance fees Performance fees 39% (20)% Technology services revenue Technology services revenue 10% 5% 1% 7% Distribution fee
Slide 8: Quarterly investment advisory, administration fees and securities lending revenue
Quarterly investment advisory, administration fees and securities lending revenue ($ in millions) Q2 2024 compared to Q2 2023 Q2 2024 compared to Q1 2024 $264 $97 $17 $13 $(1) $(7) $3,875 $18 $3 $2 $(1) $(1) $(3) $(4) $3,875 $33 $21 $23 $40 $60 $148 $3,778 $3,611 Q2 2023 ETFs Alts Active Cash ETFs M
Slide 9: Quarterly expense, as adjusted
Quarterly expense, as adjusted ($ in millions) Percentage Change Year-over-Year Sequential Employee comp. & benefits 32% Employee comp. & benefits 4% (5)% Sales, asset and account 4% 5% Sales, asset and account General & administration 7% 1% 50% Total 5% (1)% General & administration 18% Q2 2024 com
Slide 10: Alternatives client assets
Alternatives client assets ($ in billions, as of June 30, 2024) Non-Fee Client Fee Paying Paying Assets AUM Commitments Illiquid alternatives: Alternative solutions $12 $7 $5 Private equity 43 36 7 Opportunistic & credit strategies 35 31 4 Real assets: Real estate 26 26 - Infrastructure 51 38 13 Rea
Slide 11: Reconciliation between GAAP and as adjusted
Reconciliation between GAAP and as adjusted ($ in millions) 2022 2023 2024 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Operating Income GAAP $ 1,668 $ 1,526 $ 1,427 $ 1,438 $ 1,615 $ 1,637 $ 1,585 $ 1,693 $ 1,800 Non-GAAP expense adjustments 59 59 150 73 60 54 131 82 81 As Adjusted $ 1,727 $ 1,585 $ 1,577 $ 1,511 $
Slide 12: Important notes
Important notes This presentation, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations. Forward-lookin