BlackRock (NYSE:BLK), the world's largest asset manager, reported a 28% jump in second-quarter profit as investors poured more money into the company's funds, boosting its assets under management to an all-time high of $9.49 trillion U.S.
The company's adjusted net income rose to $1.55 billion U.S., or $10.03 U.S. per share for the three-month period ended June 30, up from $1.21 billion U.S., or $7.85 U.S. per share a year earlier.
Analysts had expected BlackRock to post a profit of $9.46 U.S. per share, according to data from Refinitiv.
BlackRock’s net inflows stood at $81 billion U.S., driven by higher investments in the company’s various funds, including its exchange traded funds (ETFs).
BlackRock's strong quarter saw its assets under management grow to a record $9.49 trillion U.S. from $7.32 trillion U.S. in the same quarter of 2020.
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