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EARNINGS-BlackRock quarterly profit jumps 21%

Credit: REUTERS/ARND WIEGMANN

July 17, 2020 — 06:23 am EDT

Written by Reuters ->

July 17 (Reuters) - BlackRock Inc , the world's largest asset manager, reported a 21% jump in quarterly profit on Friday, as investors poured money into its fixed-income funds and cash management services.

The New York-based company's net income rose to $1.21 billion, or $7.85 per share, in the second quarter ended June 30, from $1.00 billion, or $6.41 per share, a year earlier. (https://bit.ly/2ZEPkNv)

The company ended the quarter with $7.32 trillion in assets under management, up from $6.84 trillion a year earlier. (Reporting by Bharath Manjesh in Bengaluru; Editing by Sriraj Kalluvila) ((Bharath.ManjeshR@thomsonreuters.com; outside U.S. +91 80 6749 2703;)) Keywords: BLACKROCK RESULTS/ (URGENT)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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