Asset manager BlackRock's quarterly profit rises 31 pct

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FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo (Copyright Reuters 2017)

BlackRock Inc , the world's biggest asset manager, reported a 31 percent rise in quarterly profit helped by higher investment advisory fees and securities lending revenue.

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The company's net income rose to $862 million, or $5.23 per share, in the first quarter, from $657 million, or $3.92 per share, a year earlier.

Excluding items, the company earned $5.25 per share.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Shounak Dasgupta)