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The New York-based asset manager reported net
income of $808 million, or $4.72 per share, up from $729
million, or $4.19 per share, a year earlier.
Excluding a net non-cash tax expense and other one-time items,
earnings were $4.89 a share, beating analysts' average forecast
of $4.46 a share, according to Thomson Reuters I/B/E/S.
BlackRock's iShares exchange-traded funds business drove the
bulk of the asset manager's long-term net flows during the
quarter. Of the $38 billion that investors poured into long-term
funds during the quarter, 80 percent were from iShares funds, to
which investors added $30.4 billion. BlackRock said it had
positive net flows across asset classes during the quarter, and
fixed-income products led gains with $21.3 billion in long-term
flows.
BlackRock ended the quarter with $4.6 trillion in assets under
management, up 19 percent from a year ago.
(Reporting by Ashley Lau in New York; Editing by Lisa Von Ahn
and Bernadette Baum)
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