BlackRock
Q2 2022 Earnings Call
Jul 15, 2022, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning. My name is Jake, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the BlackRock, Inc. second quarter 2022 earnings teleconference.
Our host for today's call will be Chairman and Chief Executive Officer Laurence D. Fink; Chief Financial Officer Gary S. Shedlin; President Robert S. Kapito; and General Counsel Christopher J.
Meade. [Operator instructions] Thank you. Mr. Meade, you may begin your conference.
Chris Meade -- General Counsel
Good morning, everyone. I'm Chris Meade, the general counsel of BlackRock. Before we begin, I'd like to remind you that during the course of this call, we may make a number of forward-looking statements. We call your attention to the fact that BlackRock's actual results may, of course, differ from these statements.
As you know, BlackRock has filed reports with the SEC, which lists some of the factors that may cause the results of BlackRock to differ materially from what we say today. BlackRock assumes no duty and does not undertake to update any forward-looking statements. So with that, I'll turn it over to Gary.
Gary Shedlin -- Chief Financial Officer
Thanks, Chris, and good morning, everyone. It's my pleasure to present results for the second quarter of 2022. Before I turn it over to Larry to offer his comments, I'll review our financial performance and business results. While our earnings release discloses both GAAP and as adjusted financial results, I'll be focusing today primarily on our as adjusted numbers.
As a reminder, beginning in the first quarter of 2022, we updated our definitions of as adjusted operating income, operating margin and net income, year-over-year financial comparisons referenced on this call will relate current quarter results to these recast financials. Global equity and debt markets delivered their first -- worst first-half returns in decades as investors reacted to uncertainty associated with rising recession fears, surging inflation, interest rate hikes and geopolitical tensions. In total, these market declines, along with significant dollar appreciation against major currencies, reduced the value of BlackRock's assets under management by $1.7 trillion since December 31. Despite this challenging backdrop, BlackRock's comprehensive platforms still generated industry-leading organic growth of over $175 billion of net inflows in the first half of 2022.