BlackRock, the world's largest asset manager, beat Wall Street estimates in the first quarter as it generated larger-than-expected performance fees and bolstered assets under management despite the market turmoil.
The company said assets at the end of March were $4.4 trillion, up 12 percent on a year ago and two percent since the start of 2014.
For the first quarter, BlackRock posted $756 million in earnings, or $4.40 a share, up from $632 million, or $3.62 a share, in the same period a year earlier.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.