Wednesday, 2 September 2015
Last updated 9 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…