Why did BLK's Q2 earnings fall short?

BlackRock's Q2 earnings did not fall short. In fact, the company reported robust financial results for the quarter, with earnings per share (EPS) of $10.36, surpassing the consensus estimate of $9.96. The company's revenue for the quarter was $4.81 billion, representing a 7.7% increase over the same period last year.

1. **Asset Management Trends**: BlackRock's AUM grew to $10.65 trillion by the end of Q2 2024, reflecting a 13% year-over-year increase. This growth in AUM is a testament to the company's strong investment advisory and administration fees, which increased by 7.3% year-over-year.
2. **Technological Advancements**: The company's technology and risk management segments contributed significantly to the revenue, with $224 million reported for the quarter. This indicates that BlackRock's investment in technology is paying off, providing the company with a competitive edge and driving revenue growth.
3. **Market Conditions**: Despite the positive earnings, the company faced headwinds from higher expenses and a decline in non-operating income. These factors, coupled with market volatility, can impact the overall profitability of the company.

In conclusion, BlackRock's Q2 earnings did not fall short, and the company's strong AUM growth, technological advancements, and ability to adapt to market conditions have contributed to its financial success.