BlackRock First-Quarter Net Rises 34% as Market Lifts Assets
This article is for subscribers only.
BlackRock Inc., the world’s biggest money manager, said first-quarter profit increased 34 percent as a rising stock market lifted assets.
Net income climbed to $568 million, or $2.89 a share, from $423 million, or $2.17, a year earlier, the New York-based company said today. Excluding some one-time costs, BlackRock earned $2.96 a share, beating the $2.76 average estimate of 12 analysts surveyed by Bloomberg.