Profits at BlackRock rose for the sixth consecutive quarter despite hits to the asset manager's investments in hedge funds and real estate, which caused it to narrowly miss analyst estimates.
Net profit for the first fiscal quarter rose 24% to $242m (â¬152m) compared to the same period last year, or $1.82 per diluted share, slightly lower than analyst expectations. Revenues grew 29% to $1.3bn in the quarter, up almost 30% on the same period last year.
