BlackRock's Q1 profit increased to $1.57bn due to higher investment advisory fees and rebounding equity markets.
BlackRock, the world's largest asset manager, reported a rise in Q1 profit due to increased investment advisory and administration fees. Net income reached $1.57bn, or $10.48 per share, up from $1.16bn, or $7.64 per share, a year earlier. This growth can be attributed to a rebound in global equity markets, which benefited the company's overall performance.
April 12, 2024
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