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The
New York-based company's net income fell to $843 million, or $5
per share, from $917 million, or $5.37 per share, a year
earlier.
Analysts on average were expecting a profit of $4.57 per share,
according to Thomson Reuters I/B/E/S.
BlackRock's long-term net inflows rose to $35 billion from $29
billion a year earlier. Last quarter, long-term outflows were
$7.3 billion, the company's first outflow since 2012.
BlackRock’s exchange-traded funds business, iShares, took in
$23.3 billion in new investor money, with the lion’s share of
ETF flows going into fixed income.
BlackRock ended the quarter with $4.51 trillion in assets under
management, down from $4.52 trillion a year earlier.
The company's shares closed at $315.12 on Tuesday on the New
York Stock Exchange.
(Reporting By Sudarshan Varadhan in Bengaluru; Editing by Anil
D'Silva)
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