American fund manager BlackRock has posted attributable net income of $857m for the second quarter of 2017, an increase of 9% compared to $789m in the year ago quarter.
The company’s revenue for the quarter ended 30 June 2017 was $2.96bn, up 6% from $2.80bn a year ago.
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The firm’s quarterly operating income was $1.24bn, up 6% from $1.17bn in the second quarter of 2017.
The group’s assets under management (AuM) at the end of June 2017 stood at $5.68 trillion, a surge of 16% compared to $4.89 trillion a year ago.
BlackRock chairman and CEO Laurence Fink said: “BlackRock’s second quarter results reflect the trust our clients continue to place in our global investment and technology platform.
“While significant cash remains on the sidelines, investors have begun to put more of their assets to work. The strength and breadth of BlackRock’s platform generated a record $94 billion of long-term net inflows in the quarter, positive across all client and product types, and investment styles. The organic growth that BlackRock is experiencing is a direct result of the investments we’ve made over time to build our platform.”
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