BlackRock Profit Falls 19%

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BlackRock Profit Falls 19%
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BlackRock's first-quarter profit fell 19% from a year ago

BlackRock reported net income of $1.16 billion for the first quarter.BlackRock Inc. said Friday that its first-quarter profit fell 19% from a year ago.

The world’s largest asset manager reported net income of $1.16 billion, down from $1.44 billion in the same period a year earlier. Earnings amounted to $7.64 per share. That missed the $7.78 expected by analysts polled by FactSet.

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