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BlackRock: Q1 net income up 18%

( - The world's largest asset manager BlackRock has reported an 18% increase in adjusted net income to 1.
46 billion dollars for Q1 2022, or 9.52 dollars per share, despite global economic and geopolitical uncertainty.

The New York-based group's adjusted operating margin fell by 1.6% to 44.2% on revenues that are up 7% to 4.7 billion dollars, while its average assets under management rose 10% to 9,669 billion dollars.

Management said that BlackRock generated 114 billion dollars in long-term net inflows in Q1, with positive flows across all its product types, investment styles and regions, demonstrating the power of its platform.

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