BlackRock Inc. announced a 2.5% increase in its profits for the fourth quarter, with the largest money manager in the world also recording an increase in fee revenue and exceeding the top 10 trillion. dollars in assets under management, as reported by Reuters.
In particular, adjusted earnings rose to $ 1.61 billion, or $ 10.42 per share, in the quarter ended Dec. 31, from $ 1.57 billion, or $ 10.18, a year earlier.
Analysts’ average estimates put the company at $ 10.16 a share, according to Refinitiv.
Assets under management amounted to 10.01 trillion. USD at the end of the quarter, from 8.68 trillion. dollars a year earlier. Revenue rose nearly 14 percent to $ 5.1 billion.
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Source From: Capital
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