BlackRock Inc. posted higher quarterly profit, as market gains and new client money lifted the investment firm’s assets under management above $10 trillion for the first time.
The money manager reported net income of $1.64 billion, or $10.63 a share, in the fourth quarter, up 6% from $1.55 billion, or $10.02, in the same period a year earlier. Analysts polled by S&P Global Market Intelligence predicted per-share profit of $10.22.
