Hedge Funds Drive BlackRock Q4 Profit

Jan 25 2011 | 1:40pm ET

Strong performances from its hedge funds helped BlackRock beat analysts' expectations in the fourth quarter.

The world's largest asset manager with $3.6 trillion in assets earned $670 million in the last three months of the year, up 77% from the year-earlier period's $379 million and more than 50 cents per share better than analyst estimates. Revenue rose 61% to $2.49 billion.

The strong quarter was driven in part by the New York-based firm's hedge funds. Good results for some more than doubled BlackRock's high-margin performance fee revenue, which rose to $326 million from $125 million.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Ex-Hedge Fund Billionaire Won’t Run For Senate

Jan 23 2015 | 5:48am ET

Ex-hedge fund manager Tom Steyer will not run for Senate after Sen. Barbara Boxer...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note