BlackRock Inc., the world’s biggest asset manager, said fourth-quarter profit increased 22 percent as investors put money into funds, boosting client assets and fees for managing them.
Net income rose to $841 million, or $4.86 a share, from $690 million, or $3.93, a year earlier, the New York-based company said Thursday in a statement. Adjusted profit of $4.92 beat the $4.33 a share average estimate of 19 analysts surveyed by Bloomberg, excluding certain items. BlackRock increased its quarterly dividend by 15 percent to $1.93 per share.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]