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 "The miss is all a one-time expense from some of the deals we did
and compensation related to some of the deals we did," BlackRock
Chief Executive Officer Laurence D. Fink told CNBC.
Net income at the world's largest asset manager rose to $861
million, or $5.11 per share, in the fourth quarter from $813
million, or $4.77 per share, a year earlier.
On an adjusted basis, New York-based BlackRock earned $4.75 per
share, falling short of the average analyst estimate of $4.80,
according to Thomson Reuters I/B/E/S.
BlackRock's purchases this year have included FutureAdvisor, which
builds a digital financial-advice product, and Infraestructura
Institucional, a Mexican infrastructure company.
Despite market volatility, the company continued to lure billions of
dollars into its investment products, especially its iShares
exchange-traded funds business. BlackRock ETFs took in $60.22
billion in new money in the latest quarter, up from $44.19 billion a
year earlier.
The lion's share invested in ETFs went into equities, driven by
demand for U.S. stocks.
BlackRock experienced total long-term net flows of $53.87 billion in
the three months ended Dec. 31, down from $87.82 billion in the same
quarter of 2014.
Across all of its products, BlackRock attracted a net $53.47 billion
in long-term equity investments. Net investment in fixed income was
$158 million, while $464 million went into alternative investments.
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BlackRock ended the quarter with $4.65 trillion in assets under
management, virtually unchanged from a year earlier.
Up to Thursday's close of $310, BlackRock's shares had fallen about
9 percent since the start of the year. For all of 2015, the stock
fell nearly 5 percent.
(Reporting by Trevor Hunnicutt in New York and Amrutha Gayathri in
Bengaluru; Editing by Ted Kerr and Bernadette Baum)
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