BlackRock reported second-quarter 2025 earnings with assets under management (AUM) reaching a record $12.53 trillion, surpassing estimates of $12.31 trillion. Adjusted earnings per share (EPS) were $12.05, beating expectations of around $10.87. Revenue rose 13% year-over-year to $5.42 billion, slightly below estimates. The company recorded total net inflows of $68 billion, driven by a record first half for iShares ETFs, private markets, and cash inflows, although a single institutional client redeemed $52 billion during the quarter, impacting net inflows. Despite the inflow decline, BlackRock became the world’s first asset manager to surpass $12 trillion in AUM. Shares fell over 6% following the earnings release. Other major financial institutions also reported strong second-quarter results: Wells Fargo posted EPS of $1.60 and revenue of $20.82 billion, both beating estimates; Bank of New York Mellon reported adjusted EPS of $1.94 and revenue exceeding $5 billion for the first time; Citigroup reported EPS of $1.96 and revenue of $21.67 billion; Goldman Sachs posted EPS of $10.91 and revenue of $14.58 billion, driven by record equities trading; Morgan Stanley reported EPS of $2.13 and revenue of $16.79 billion; American Express delivered EPS of $4.08 and revenue of $17.86 billion, with record card member spending; Charles Schwab reported adjusted EPS of $1.14 and revenue of $5.85 billion, supported by higher trading volumes; Interactive Brokers posted adjusted EPS of $0.51 and revenue of $1.48 billion. These results reflect robust trading activity and asset growth amid market volatility and tariff-related uncertainties.