BlackRock Reports Third Quarter 2022 Diluted EPS of $9.25, or $9.55 as adjusted

New York, October 13, 2022 – BlackRock, Inc. (NYSE: BLK) today reported financial results for the three and nine months ended September 30, 2022.

• $65 billion of quarterly long-term net inflows driven by continued momentum in strategic ETFs and significant outsourcing mandates, with total net inflows of $17 billion reflecting outflows from cash management and advisory AUM
• 15% decrease in revenue year-over-year primarily driven by the impact of significantly lower markets and dollar appreciation on average AUM and lower performance fees
• 6% increase in technology services revenue year-over-year reflects continued strong client demand for Aladdin, despite the negative impact of foreign exchange movements
• 21% decrease in operating income (22% as adjusted) year-over-year includes the impact of $96 million of fund launch costs in the third quarter of 2021
• 15% decrease in diluted EPS (16% as adjusted) year-over-year also reflects a lower effective tax rate and a lower diluted share count, partially offset by lower nonoperating income, in the current quarter
• $375 million of share repurchases in the current quarter

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