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BLK delivered a strong Q1 performance with earnings surging 11% to $12.53 per share, well ahead of Street expectations of $11.48. Revenue jumped 27% to $6.698 billion (vs. $6.5 billion expected), while operating margins expanded 130 basis points to 44.5%. The asset management giant did see long-term net inflows of $136 billion fall slightly short of the $146 billion Street estimate, primarily due to weaker fixed income flows of $34.3 billion versus expectations of $55.3 billion. CEO Larry Fink characterized this as "one of the strongest starts to a year in our history," highlighting the firm's momentum in private markets with $9 billion in net inflows led by private credit and infrastructure strategies.
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