January 12, 2018 / 11:17 AM / 8 months ago

BlackRock's profit surges on gain from new U.S tax laws

Jan 12 (Reuters) - BlackRock Inc, the world's biggest asset manager, posted a surge in fourth-quarter profit, helped by a $1.2 billion gain related to the enactment of the U.S. tax laws.

The New York-based company's net income rose to $2.3 billion, or $14.07 per share, in the quarter ended Dec. 31 from $851 million, or $5.13. per share, a year earlier.

Excluding the benefit from the new tax law, BlackRock earned $6.24 per share.

Reporting by Diptendu Lahiri in Bengaluru; Editing by Savio D'Souza

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below