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IVZ · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 20.5% y/y to $1.83B, operating margin 19.9% vs 14.1%, net income $345M.
Net income attributable to Invesco Ltd.
$345M
Total operating revenues
$1,826M
up 20.5% y/y
Operating income
$364M
up 70.0% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Total operating revenues | $1,826 · +20.5% |
| Third-party distribution, service and advisory | $627 · +25.2% |
| Employee compensation | $547 · +7.1% |
| General and administrative | $134 · −4.1% |
| Property, office and technology | $109 · −7.5% |
| Marketing and amortization of intangibles (calculated) | $44.8 · +36.6% |
| Operating income | $364 · +70.0% · 19.9% margin |
| Other gains/(losses), net | $106 · +77.2% |
| Equity in earnings of unconsolidated affiliates | $35.1 · +40.4% |
| Interest and dividend income | $9.9 · −5.7% |
| Interest expense | $23.6 · +14.0% |
| Other income/(expense) of CIP, net | $36 · +152% |
| Income before income taxes | $455 · +66.0% |
| Income tax provision | $117 · +51.3% · 25.6% effective rate |
| Loss attributable to noncontrolling interests in consolidated entities | $43.4 · +623% |
| Dividends declared on preferred shares | $37 · −34.6% |
| Net income attributable to Invesco Ltd. | $345 · vs −$12.5 · $0.76/sh · 18.9% margin |
Verdict: revenue grew 20.5% y/y to $1.83B, operating margin 19.9% vs 14.1%, net income $345M.
Diluted EPS $0.76 vs a $0.03 loss a year earlier (adjusted EPS $0.71); operating margin 19.9%, adjusted operating margin 37.5%; record net long-term inflows of $45.1 billion; ending AUM $2.5 trillion; net debt reduced by more than $450 million.
Source and notation
Source: Invesco earnings release, 8-K EX-99 of 07/28/2026 (SEC EDGAR). Financial-services layout: net revenues as reported (for brokers, after interest expense); expenses by line of the income statement lead to pre-tax income. The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
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Chart: “IVZ Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/ivz/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/ivz/q2-2026"><img src="https://whoreportstoday.com/t/ivz/q2-2026/sankey.png" alt="IVZ Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/ivz/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/ivz/q2-2026">IVZ Q2 2026 earnings chart (Who Reports Today)</a>
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- Investment management fees rose to $1,461.8M from $1,100.9M, mainly on management fees for QQQ after its conversion to an open-end fund ETF in the fourth quarter of 2025 and higher average AUM; service and distribution fees fell as QQQ pass-through service revenues ended.
- Third-party distribution, service and advisory costs rose to $627.1M from $500.7M on higher average AUM and third-party costs for QQQ.
- A year earlier the common shareholders' result was a loss: $159.3M of cost of preferred share repurchase pushed net income attributable to Invesco to negative $12.5M.
- The effective tax rate was 25.6% vs 28.1%, helped by a discrete benefit on the sale of the Canadian fund management agreements to CI Global Asset Management.
- Operating income was $364M, a 19.9% margin vs 14.1% a year earlier.
- The effective tax rate was 25.6% vs 28.1% a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
IVZ — Invesco is a global asset manager offering ETFs (including the Invesco QQQ Trust), mutual funds, fixed income, private markets and other strategies to retail and institutional clients.
Headquarters: Atlanta, Georgia.
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