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The fund manager's results show that inflows do not necessarily translate into increased profits

Former Reporter

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Investors increased the flood of cash flowing into money management giant BlackRock in the last quarter. But the firm saw profits fall 6.5% from the comparable quarter a year earlier to $1bn.

BlackRock reported earnings of $6.41 a share, down from $6.62 a share. Its earnings missed estimates from analysts polled by FactSet.

BlackRock’s assets top $6.8tn but profits fall

Allison Prang

Dawn Lim

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