BlackRock quarterly profit falls 23% [Reuters]
BlackRock, Inc. (BLK)
Last blackrock, inc. earnings: 4/16 06:02 am
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Source: Reuters
BlackRock quarterly profit falls 23% (Reuters) - BlackRock Inc ( BLK.N ), the world’s largest asset manager, reported a 23% drop in quarterly profit, as investors pulled money out of its marquee funds and preferred cash management services, while costs rose amid a global economy hit by the coronavirus pandemic. The New York-based company’s net income fell to $806 million, or $5.15 per share, in the first quarter ended March 31, from $1.05 billion, or $6.61 per share, a year earlier. The company ended the quarter with $6.47 trillion in assets under management, down from $6.52 trillion a year earlier.
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