14 JULY (Reuters) – On Wednesday, BlackRock Inc (BLK.N), the world’s largest asset manager, announced a 28 percent increase in second-quarter earnings, easily beating expectations, as investors poured more money into the firm’s funds, pushing its assets under management to record highs. In the three months ended June 30, the company’s adjusted net income increased to $1.55 billion, or $10.03 per share, up from $1.21 billion, or $7.85 per share, a year earlier. According to Refinitiv’s IBES statistics, analysts predicted a profit of $9.46 per share on average. Higher investments in BlackRock’s different products, notably its exchange-traded funds, drove net inflows to $81 billion. BlackRock’s assets under management increased to a record $9.49 trillion in the first quarter of this year, up from $7.32 trillion the previous year. Sohini Podder contributed reporting from Bengaluru, and Maju Samuel edited the piece. The Thomson Reuters Trust Principles are our standards./n
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