July 19, 2019 / 10:25 AM / a month ago

BlackRock second-quarter profit falls 6.5%

July 19 (Reuters) - BlackRock Inc, the world’s largest asset manager, on Friday reported a 6.5% drop in second-quarter profit, as investment advisory and securities lending revenue fell and costs rose.

Net income attributable to BlackRock fell to $1 billion, or $6.41 per share, in the quarter ended June 30 from $1.07 billion, or $6.62 per share, a year earlier. (bit.ly/2Ya6YZj)

The company ended the quarter with $6.84 trillion in assets under management, up from $6.30 trillion a year earlier. (Reporting by C Nivedita in Bengaluru; Editing by Maju Samuel)

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