(Reuters) – BlackRock Inc, the world’s largest asset manager, posted stronger quarterly profit on Thursday as increased volatility in financial markets led to higher capital inflows.
The company’s net income rose to $ 1.57 billion, or $ 10.18 per share, in the quarter ended December 31, from $ 1.31 billion, or $ 8.34 per share, last year.
Analysts had expected net income of $ 9.14 per share on average. It was not immediately clear whether the figures were comparable.
Reportage by Ambar Warrick in Bengaluru, edited by Maju Samuel