ECONOMY

Blackrock Disappoints

The asset manager Blackrock has not been able to convert a veritable flood of customer inflows into higher profits. The result fell significantly in the second quarter and was worse than expected by analysts.

Blackrock reported net inflows of $151 billion for the period from April to June, compared to $20 billion a year earlier. The assets under management increased by 8.6 percent to 6.8 trillion dollars.

The revenues nevertheless decreased by 2 percent to 3.52 billion and were slightly below expectations. The net profit fell to $1 billion from 1.1 billion a year earlier.

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Seth Statnick

Reporter Seth Statnick was born and raised in California but moved east when he was 25. Apart from running his own consulting firm. Seth spends his time rowing. As a financial journalist Seth has published stories for NPR Business Online, as well as Buzz Feed and Motherboard. As a contributor to The Ticker Times, Seth mostly covers markets and trade. Tel: 206-332-0220 Location: 1304 6th Ave, Seattle, WA 98104, USA Email: seth@thetickertimes.com

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