BlackRock falls more than 8% from 2026 high before earnings

BlackRock shares have fallen more than 8% from their 2026 high before the asset manager reports earnings on Oct. 14, according to a Benzinga article published Oct. 11.

The Oct. 14 report will test whether BlackRock’s asset and fee growth can offset private-credit concern; analysts cited by Benzinga expect third-quarter revenue to rise 15.5% to $7.52 billion.

The pressure has tracked weakness in other private-credit-linked firms named by Benzinga, including Blue Owl, Apollo Global Management, KKR and Blackstone. BlackRock expanded in private credit through its 2024 acquisition of HPS Investment Partners, which Benzinga said had more than $197 billion in assets.

That HPS asset figure is more than six times the $30 billion in full-year BlackRock revenue expected by analysts cited by Benzinga, according to Atlas360 calculations. Private credit refers to lending to companies outside traditional bank loans or public bond markets.

Benzinga reported that HPS Corporate Lending Fund sought to redeem 11.5% of shares in the third quarter, after another 13.3% in the second quarter. Those figures frame the investor concern around BlackRock’s private-credit exposure.

BlackRock’s broader business has provided an offset. Benzinga said the company’s previous earnings showed second-quarter assets rose by $192 billion, revenue increased 31% from a year earlier, operating income rose 42% and share repurchases reached $550 million.

The analyst backdrop cited by Benzinga remains positive. Evercore’s Glenn Schorr has a $1,275 target, Wells Fargo’s Michael Brown has a $1,230 target, and Benzinga put the average analyst estimate at $1,305, about 30% above the current level.

For the full year, analysts cited by Benzinga expect revenue to rise 20% to $30 billion. The next company update is BlackRock’s Oct. 14 earnings report.