×

Asset manager BlackRock's third-quarter profit rises

Oct 11 (Reuters) - BlackRock Inc, the world's biggest asset manager, on Wednesday reported a 8.2 percent rise in quarterly profit, helped by investment advisory, administration fees and securities lending revenue.

The New York-based company's net income rose to $947 million in the third quarter ended Sept. 30 from $875 million a year earlier.

On a per share basis, BlackRock earned $5.78, up from $5.26 in the quarter a year ago, as the number of shares outstanding fell. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Bernard Orr)