April 12, 2018 / 10:23 AM / 13 days ago

Asset manager BlackRock reports 26.8 pct rise in Q1 profit

April 12 (Reuters) - BlackRock Inc, the world’s largest asset manager, on Thursday reported a 26.8 percent rise in first-quarter profit, helped by lower tax rate and higher advisory fees.

The New York-based company’s net income rose to $1.09 billion, or $6.68 per share, in the quarter ended March 31 from $859 million, or $5.21 per share, a year earlier.

The company ended the quarter with $6.32 trillion in assets under management, up from $6.29 trillion at the end of the fourth quarter. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Arun Koyyur)

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