BlackRock second-quarter profit rises 8.6 percent

BlackRock second-quarter profit rises 8.6 percent

BlackRock Inc , the world's biggest asset manager, reported an 8.6 percent rise in quarterly profit, helped by higher fees.

The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai

REUTERS: BlackRock Inc , the world's biggest asset manager, reported an 8.6 percent rise in quarterly profit, helped by higher fees.

Net income attributable to the company rose to US$857 million in the second quarter ended June 30 from US$789 million a year earlier.

On a per share basis, BlackRock earned US$5.22, up from US$4.73 last year.

Excluding items, the company earned US$5.24 per share.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters

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