20% jump in profits BlackRock, which beat analysts' forecasts in the first quarter thanks to a sharp increase in revenue and investments in its mutual funds. The world's largest investment firm ended the January-March period with $4.400 trillion in assets under management, up 12% from the same period last year and up 1,8% from the previous three months .
In the first three months of the year, BlackRock reported profits of $756 million, $4,40 per share, up from $632 million, $3,62 per share, in the same period last year. Excluding special items, earnings increased from $3,65 to $4,43 a share.
Revenue grew 9% to $2,67 billion. Analysts were expecting profits of $4,11 per share on $2,66 billion in business. “The strength and stability of our diversified platform once again drove results,” said Chief Executive Officer Laurence Fink.
The driving force was net incoming capital of 14 billion dollars (the long-term total amounted to 26,7 billion), as announced by the company, which recently decided on a round of seats with the aim to further improve performance.
