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BlackRock INVESTOR RELATIONS : Samantha Tortora 212.810.5397 BlackRock Reports First Quarter 2021 Diluted EPS of $ 7.77 - MEDIA RELATIONS : Brian Beades 212.810.5596 New York , April 15 , 2021 $ 172 billion of quarterly total net inflows , or 8 % annualized organic asset growth , driven by continued momentum across the platform , with positive flows across all regions , investment styles and product types BlackRock , Inc. ( NYSE : BLK ) today reported financial results for the three months ended March 31 , 2021 . Significantly higher annualized organic base fee growth in the quarter reflects strength of active capabilities across all product types 19 % increase in revenue year - over - year reflects strong organic growth , higher performance fees and 12 % growth in technology services revenue Year - over - year increases in GAAP operating income ( 126 % ) and diluted EPS ( 51 % ) impacted by charitable contribution in the first quarter of 2020 , which was excluded from as adjusted results 21 % increase in as adjusted operating income year - over- year includes the impact of $ 178 million of fund launch costs in the current quarter 18 % increase in as adjusted diluted EPS year - over - year also reflects lower nonoperating income and a higher effective tax rate , partially offset by a lower diluted share count , in the current quarter Consistent capital management supported by $ 300 million of share repurchases in the current quarter and 14 % increase in quarterly cash dividend to $ 4.13 per share FINANCIAL RESULTS Laurence D. Fink , Chairman and CEO : " BlackRock's deep sense of responsibility to help more and more people experience financial well - being has guided significant investments in our business over time , positioning us to deliver strong results for all of our stakeholders today . By evolving to stay ahead of clients ' needs , we've built a platform equipped to provide whole portfolio solutions that include index , active , cash and alternative strategies , sustainable investing capabilities , industry - leading technology and a voice that helps guide our clients as they adapt to a changing world . " We generated a record $ 172 billion of total net inflows in the quarter , our fourth consecutive quarter with over $ 100 billion of net inflows . Flows represented 8 % annualized organic asset and a record 14 % annualized organic base fee growth , as clients contributed $ 59 billion to BlackRock's active platform and demand remained strong for ETFs and cash . Consistently strong results , including 14 % organic base fee growth over the last twelve months , reflect the benefits of our investments over time . " BlackRock's differentiated platform and our insights on some of the biggest issues society is facing today are resonating with clients . To help them navigate toward a net zero world , we're systematically integrating climate and broader sustainability factors into our portfolio management process . Our recently announced partnership with Temasek to provide funding for decarbonization solutions is the latest of many examples of how we continue to innovate . " I am excited by the magnitude of opportunities in front of BlackRock . We remain committed to executing our strategy , evolving our business , strengthening our culture and living our purpose as we invest for the future to deliver value for all of our stakeholders . " NET FLOW HIGHLIGHTS ( in millions , except per share data ) AUM % change Average AUM % change Total net flows GAAP basis : Revenue $ 171,643 $ 34,988 Q1 2021 Q1 2020 ( in billions ) $ 9,007,411 $ 6,466,668 Long - term net flows : 39 % By region : $ 8,782,351 $ 7,124,711 23 % Americas Q1 LTM ( 1 ) 2021 2021 $ 133 $ 409 EMEA APAC $ 72 $ 181 39 147 22 81 $ % change 4,398 $ 19 % 3,710 By client type : Operating income $ 1,545 $ 684 % change 126 % Retail : US $ Operating margin 35.1 % 18.4 % International Net income ( 1 ) $ 1,199 $ 806 % change 49 % ETFs : $ Diluted EPS $ % change 7.77 $ 51 % 5.15 Core equity Strategic Weighted - average diluted shares 154.3 156.4 Precision 328812 37 $ 108 14 68 $ 240 17 140 % change ( 1 ) % Institutional : As Adjusted : Active 17 Operating income ( 2 ) $ 1,545 $ 1,273 Index 11 871 28 $ % change Operating margin ( 2 ) 21 % 44.4 % Net income ( 1 ) ( 2 ) $ % change 1,199 $ 16 % 41.7 % 1,032 Cash management net flows $ 39 $ 100 Advisory net flows ° . $ Diluted EPS ( 2 ) $ % change 7.77 $ 18 % 6.60 Total net flows $ 172 $ 527 872 335 E 2N 49 59 45 55 61 50 11 19 ( 1 ) ( 1 ) ( 2 ) Net income represents net income attributable to BlackRock , Inc. See notes ( 1 ) through ( 4 ) to the condensed consolidated statements of income and supplemental information on pages 9 and 10 for more information on as adjusted items and the reconciliation to GAAP . Amounts represent rolling last twelve months long - term net flows as of March 31 , 2021 . 1