REUTERS: BlackRock Inc, the world's largest asset manager, on Thursday reported a 20per cent jump in quarterly profit, as increased activity in financial markets pushed its assets under management to record high levels.
The company's adjusted net income rose to US$1.57 billion, or US$10.18 per share, in the quarter ended Dec. 31, from US$1.31 billion, or US$8.34 per share, last year.
Analysts on average had expected net income of US$9.14 per share. It was not immediately clear if the figures were comparable.
Assets under management grew to US$8.68 trillion at the end of the quarter, from US$7.81 trillion in the third quarter.
Total net inflows were US$126.93 billion, slightly lower than the US$128.7 billion in the preceding quarter.
(Reporting by Ambar Warrick in Bengaluru, editing by Maju Samuel)