LONDON (ShareCast) - (Sharecast News) - Money manager BlackRock posted a jump in fourth-quarter profit on Friday as assets under management hit fresh highs.
In the three months to the end of December 2021, adjusted profit rose to $1.61bn from $1.57bn in the same quarter a year prior, with adjusted earnings per share coming in at $10.42 versus $10.18. Analysts has been expecting adjusted EPS of $10.15.

Revenue increased to $5.11bn from $4.48bn and assets under management pushed up 15% to $10.01trn.

Chairman and chief executive Laurence D. Fink said: "BlackRock delivered the strongest organic growth in our history, even as our assets under management reached new highs. We generated $540bn of net inflows in 2021, including an industry leading $267bn of active net inflows."

Fink said the company's iShares ETF platform remained a significant growth driver, with record flows of $306bn.

"Our record results across each of our strategic priorities demonstrate the benefits of continually investing in our platform over years ahead of our clients' needs, and the tireless commitment of our employees. Our strategy is resonating - we're building deeper partnerships with our clients and other stakeholders, and delivering durable returns for our shareholders," he said.

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