(Reuters) – BlackRock Inc (NYSE:), the world’s largest money manager, reported a 19% rise in third-quarter profit on Wednesday as an improving economy helped boost its assets under management, driving up fee income.
Adjusted net income rose to $1.69 billion, or $10.95 per share, in the quarter ended Sept. 30, from $1.42 billion, or $9.22 per share, a year earlier.
Analysts on average were expecting the company to report a profit of $9.35 per share, according to IBES data from Refinitiv.
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