BlackRock beats estimates while State Street drops on fee revenue
Two asset managers reported Wednesday, and the market's reaction split.
Earnings · Wednesday, October 14, 2026 · 12:30 PM ET
Two big money managers reported on Wednesday and investors treated them very differently. BlackRock beat estimates, while State Street fell after its fee revenue disappointed.
BlackRock tops forecasts
BlackRock earned $15.93 a share as adjusted, above the $14.30 analysts expected, on revenue of $7.75 billion, against $7.44 billion expected (Investing.com). On a reported basis it earned $10.57 a share (BlackRock; Financial Current). Net inflows were $205 billion and assets under management reached $15.5 trillion, Investing.com reports. The stock rose in premarket trading (Investing.com, Yahoo Finance).
State Street slides
State Street earned $3.69 a share, a penny or so ahead of estimates, on revenue of $4.0 billion, just under the $4.03 billion expected (Newsquawk, Seeking Alpha). Seeking Alpha said fee revenue of $3.14 billion fell short of expectations and the company raised the upper end of its expense growth guidance. The shares were down about 8.5% in premarket trading (Seeking Alpha) and down 7.64% at $160.81 by 10:49 AM ET (RTTNews).
Both results came the same morning as the Morgan Stanley beat and Bank of America's miss, covered in our First Light story.