October 16, 2018 / 10:18 AM / a month ago

BlackRock's profit rises 29 pct on demand for low risk funds

Oct 16 (Reuters) - BlackRock Inc reported a 28.8 percent rise in profit on Tuesday, helped by higher demand for its low risk funds in a quarter marked by heightened trade tensions between Beijing and Washington.

Net income attributable to the world’s biggest asset manager rose to $1.22 billion in the third quarter ended Sept.30, from $944 million a year earlier.

On a per share basis, BlackRock earned $7.54, compared with $5.76 a year earlier.

Reporting by Diptendu Lahiri in Bengaluru; Editing by Arun Koyyur

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below