BlackRock's Net Income Increases 5.9% as Clients Add Money
- Adjusted earnings per share miss estimates by 5 cents
- Fink says markets may decline 10% more before rebounding
BlackRock's Fourth-Quarter Profit Rises 5.9 Percent
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BlackRock Inc., the world’s largest money manager, reported fourth-quarter earnings that missed analysts’ estimates as rising expenses offset higher revenue.
Net income increased to $861 million, or $5.11 a share, from $813 million, or $4.77 a share, a year earlier, the New York-based company said Friday in a statement. Adjusted earnings of $4.75 a share missed the $4.80 average estimate of 19 analysts surveyed by Bloomberg because of transaction-related costs.