January 16, 2019 / 11:27 AM / 6 months ago

BlackRock reports 60 pct slump in quarterly profit

Jan 16 (Reuters) - BlackRock Inc, the world's biggest asset manager, reported on Wednesday a 60 percent slump in quarterly profit from a year ago when the company booked a more than $800 million gain due to changes in the U.S. tax code.

Net income attributable to BlackRock fell to $927 million, or $5.78 per share, in the fourth quarter ended Dec. 31, from $2.30 billion, or $14.01 per share, a year earlier. (bit.ly/2TRBNMA)

On an adjusted basis, the company earned $6.08 per share, compared with $6.19 per share a year ago. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Arun Koyyur)

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