Overview
- Fourth-quarter revenue rose 23% year over year to $7.01 billion and adjusted EPS increased 10% to $13.16, topping consensus estimates.
- Full-year 2025 net inflows totaled $698 billion, lifting assets under management to a record $14 trillion at year-end.
- The quarterly dividend was increased to $5.73 per share, payable March 24 to shareholders of record on March 6, alongside $1.6 billion of share repurchases in 2025.
- Private-markets momentum contributed to results, including roughly $230 million in fees tied to the HPS transaction and higher performance fees.
- Technology and subscription revenue climbed to $531 million, supported by Aladdin demand and about $65 million from the March 2025 Preqin acquisition, with ACV up 31% including Preqin.