© Reuters. FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo
(Reuters) – BlackRock Inc (NYSE:) posted a drop in fourth-quarter profit on Friday, as a global market rout pressured fee income and assets under management fell in an uncertain economic environment.
On an adjusted basis, the world’s largest asset manager earned $1.36 billion, or $8.93 per share, in the three months ended Dec. 31, compared with $1.65 billion, or $10.68 per share, a year earlier.
Analysts on average had expected a profit of $8.11 per share, according to IBES data from Refinitiv.
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