What factors contributed to BLK's yearly earnings growth?

BlackRock's (BLK) yearly earnings growth can be attributed to several key factors: 1. **Strategic Acquisitions**: BlackRock's successful acquisitions, such as Preqin, HPS Investment Partners, and Global Infrastructure Partners (GIP), have significantly expanded its private markets business and diversified its revenue streams. These deals have boosted its global reach and assets under management (AUM). 2. **Organic Growth**: The company has seen a 7% organic base fee growth and a 12% technology services ACV growth, indicating strong performance within its core business segments. This organic growth is a result of client activity and market conditions. 3. **Market Conditions and Client Activity**: The firm's AUM increased by $2.4 trillion to $11.5 trillion, driven by $456 billion in net inflows and positive market movements. This growth reflects favorable market conditions and client confidence in BlackRock's investment strategies. 4. **Diversification of Products and Services**: BlackRock's focus on diversifying its product suite and revenue mix has improved its AUM over the years. The company's inorganic growth strategy, including acquisitions, has contributed to this diversification and growth. 5. **Technology and Innovation**: The adoption of advanced technology, such as its Aladdin platform, has enhanced operational efficiency and provided competitive advantages in managing investment portfolios. This technological edge likely contributes to better service delivery and cost management, thereby boosting profitability. 6. **Cryptocurrency Exposure**: The growing demand for cryptocurrency exposure is contributing to BlackRock's growth. This trend likely includes increased interest in Bitcoin, which BlackRock has been actively involved in promoting through its iShares Bitcoin Trust product. In summary, BlackRock's yearly earnings growth is a result of strategic acquisitions, organic growth, favorable market conditions, diversification of products and services, technological innovation, and tapping into new investment trends like cryptocurrency exposure.