BlackRock quarterly profit jumps 16%

BlackRock Inc, the world's largest asset manager, reported a 16% jump in first-quarter profit on Thursday as investors poured more money into its diverse funds and fee revenue jumped.

The company's net income rose to $1.2 billion, or $7.77 per share, in the three months ended March 31, from $1.03 billion, or $6.60 per share, a year earlier.

Analysts on average had expected earnings per share of $7.64, according to Refinitiv IBES data.