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BlackRock Fourth-quarter Profit Jumps 20% As AUM Touches Record High

BlackRock Fourth-quarter Profit Jumps 20% As AUM Touches Record High

BlackRock Inc, the world's largest asset manager, on Thursday reported a 20% jump in quarterly profit, as increased activity in financial markets pushed its assets under management to record high levels.

BlackRock Inc, the world’s largest asset manager, on Thursday reported a 20% jump in quarterly profit, as increased activity in financial markets pushed its assets under management to record high levels.

The company’s adjusted net income rose to $1.57 billion, or $10.18 per share, in the quarter ended Dec. 31, from $1.31 billion, or $8.34 per share, last year.

Analysts on average had expected net income of $9.14 per share. It was not immediately clear if the figures were comparable.

Assets under management grew to $8.68 trillion at the end of the quarter, from $7.81 trillion in the third quarter.

Total net inflows were $126.93 billion, slightly lower than the $128.7 billion in the preceding quarter.

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