Published on 19/07/2019 5:12:50 PM | Source: Reuters

BlackRock second-quarter profit falls 6.5%

Posted in Top Stories| #World Market #Black Rock

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BlackRock Inc, the world's largest asset manager, on Friday reported a 6.5% drop in second-quarter profit, as investment advisory and securities lending revenue fell and costs rose.

Net income attributable to BlackRock fell to $1 billion, or $6.41 per share, in the quarter ended June 30 from $1.07 billion, or $6.62 per share, a year earlier.

The company ended the quarter with $6.84 trillion in assets under management, up from $6.30 trillion a year earlier.

(Reporting by C Nivedita in Bengaluru; Editing by Maju Samuel)