BlackRock posts strong Q2 2026 earnings with 40% operating margin and growing new revenue streams.

BlackRock, the world's largest asset manager, reported strong second-quarter 2026 results, highlighted by an exceptional 40% operating margin despite industry-wide fee declines. The company is successfully growing a lesser-known revenue stream by 40% year-over-year, helping offset fee pressures from active management competitors. However, the report also notes potential risks from securities lending practices in ETFs that could pose counterparty risks in a severe liquidity crisis. Despite the solid earnings, the author remains cautiously optimistic about holding BlackRock stock for the long term.