BlackRock assets reach new peak
On Friday, BlackRock Inc’s fourth-quarter profit was above analyst expectations, as the world’s biggest investment supervisor’s fee revenue increased as investments surpassed $10 trillion for the first time.
After the quarter, total assets totaled $10.01 trillion, up from $8.68 trillion a year earlier.
The performance of asset managers, in general, was boosted by a good finish to the year by financial markets, with BlackRock profiting from its size and reach.
In the quarter ended Dec. 31, adjusted profit increased 2.5 percent to $1.61 billion, or $10.42 per share, up from $1.57 billion, or $10.18 per common stock, last year.
Following Refinitiv’s IBES data, experts predict the firm to make a profit of $10.16 per share in total.
Revenue increased by approximately 14% to $5.1 billion.