BlackRock quarterly profit jumps 27% on higher fees

(Reuters) – BlackRock Inc BLK.N, the world’s largest asset manager, reported a 27% rise in third-quarter profit on Tuesday, helped by higher fees.

The New York-based company’s net income rose to $1.42 billion, or $9.22 per share, in the three months ended Sept. 30, from $1.12 billion, or $7.15 per share, a year earlier. (bit.ly/3iXBXy6)

The company ended the quarter with $7.81 trillion in assets under management, up from the $7.32 trillion in the second quarter and $6.96 trillion a year earlier.