BlackRock Earnings Grew by Over 40% In The Fourth Quarter
Last week, BlackRock (NYSE: BLK) posted a blowout quarter ended Dec. 31 with a 40% rise in quarterly earnings. Thanks to BlackRock's lineup of fixed-income exchange-traded funds, its growth path keeps on chugging as investors gravitate toward its iShares products. BlackRock investors liked the news and shares have risen 4% higher since the earnings were released Jan. 15.
The world's biggest asset manager amassed more than $7 trillion in assets in its fourth quarter. Fixed-income ETFs helped lift the investment firm's profitability by logging $428 billion in net inflows. The trend looks to continue as investors pour new money into iShares ETFs at the expense of traditional mutual funds. Even as equities hit new highs, BlackRock investors continue to favor its vast lineup of bond ETFs.
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Source Fool.com
