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BlackRock profit jumps 19% as rise in assets boosts fee income By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: This is the BlackRock logo outside its New York City office, U.S.A, on October 17, 2016. REUTERS/Brendan McDermid

(Reuters) – BlackRock Inc (NYSE :), the largest money manager in the world, announced a 19% increase in its third quarter profit. This was due to an improved economy that helped it boost assets and drive up fees income.

From $1.42 trillion, which was $9.22 per shares a year before, the adjusted net income increased by $1.69Billion to $10.95/share in the September 30 quarter.

According to Refinitiv’s IBES data, analysts expected the company to post a profit of $9.35 per shares.

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