BlackRock quarterly profit slips on lower fee income

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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.