Operating Expenses
Blackrock·Income Statement·9 metrics
Breakdown
| Metric | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Other operating expenses | $3B | $3.2B | $3.6B | $3.6B | $3.7B | $4.6B | $5.3B | $3.9B |
| Total operating expenses | $3B | $3.2B | $3.6B | $3.6B | $3.7B | $4.6B | $5.3B | $3.9B |
| Compensation and benefits | $1.5B | $1.6B | $1.9B | $1.7B | $1.8B | $2.4B | $2.6B | $2.2B |
| Total sales asset and account expense | $929M | $962M | $996M | $1B | $1.1B | $1.2B | $1.2B | $1.3B |
| Sponsor fees | $539M | $549M | $565M | $570M | $576M | $638M | $676M | $705M |
| General and administrative | $534M | $562M | $632M | $615M | $689M | $782M | $549M | $674M |
| Change in contingent consideration liability | -$9M | -$9M | -$9M | $96M | — | — | — | -$549M |
| Direct fund expense | $358M | $379M | $389M | $392M | $441M | $464M | $470M | $481M |
| Sub-advisory and other expense | $32M | $34M | $42M | $47M | $46M | $60M | $80M | $71M |