Tags: BlackRock | earnings | profit | money manager

BlackRock's Fourth-Quarter Profit Rises 24 Percent

Thursday, 16 Jan 2014 07:01 AM

BlackRock Inc., the world's largest money manager, said on Thursday that its fourth-quarter profit rose 24 percent, citing growth in markets, long-term net inflows and strong performance fees.

The New York-based company reported net income of $841 million, or $4.86 per share, up from $690 million, or $3.93 per share, a year earlier.

Excluding certain items such as long-term compensation expenses, earnings were $4.92 a share, above the analysts' average forecast, according to Thomson Reuters I/B/E/S.

Of the $40.5 billion that investors poured into long-term funds during the quarter, nearly half — $19.1 billion — went into the company's iShares exchange-traded funds business.

BlackRock ended the quarter with assets under management of $4.3 trillion, including new money and market gains.

The company also said its board had approved a 15 percent increase in its quarterly cash dividend to $1.93 per common share, payable in March.

© 2017 Thomson/Reuters. All rights reserved.

   
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BlackRock Inc., the world's largest money manager, said on Thursday that its fourth-quarter profit rose 24 percent, citing growth in markets, long-term net inflows and strong performance fees.
BlackRock,earnings,profit,money manager
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2014-01-16
Thursday, 16 Jan 2014 07:01 AM
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