(Reuters) -BlackRock Inc, the world's largest asset manager, posted a 25% rise in its second-quarter adjusted profit on Friday, benefiting from investors pouring money into its various market funds.
On an adjusted basis, BlackRock earned $1.4 billion, or $9.28 per share, for the three months ended June 30, compared with $1.1 billion, or $7.36 per share, a year earlier.
Analysts on average had expected a profit of $8.50 per share, according to Refinitiv IBES data.
The New York-based firm ended the second quarter with $9.4 trillion in assets under management (AUM), up from $8.5 trillion a year earlier and higher than $9.1 trillion in the first quarter this year.
Markets are trying to revive themselves back after taking a beating in the first quarter caused by incredible bank collapses in the United States that triggered liquidity fears.
Revenue at BlackRock fell 1.4% to $4.4 billion from a year earlier, driven by the impact of market movements over the past 12 months on average AUM, it said.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju Samuel)
