BlackRock Profit Jumps 26%, Beats Views

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BlackRock Inc. on Wednesday reported a 26% rise in third-quarter profit, with net income rising to $917 million from $730 million in the same quarter last year. Earnings per share jumped 28% to $5.37 from $4.21 in the third quarter of 2013. Adjusted profit climbed 34% to $5.21 per share. Revenue for the investment manager rose 15% to $2.85 billion, while assets under management went up to $4.52 trillion from $4.10 trillion last year. Analysts surveyed by FactSet had expected earnings of $4.66 a share on revenue of $2.82 billion. Shares were flat in early premarket trade.

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