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BlackRock's Profit Beats Estimates as Clients Add Money

BlackRock Inc., the world’s largest money manager, reported third-quarter profit that beat analyst estimates as retail clients and institutions added money.

Net income decreased 8 percent to $843 million, or $5 a share, from $917 million, or $5.37, a year earlier, the New York-based company said Wednesday in a statement. Adjusted earnings of $5 a share beat the $4.58 average estimate of 19 analysts, according to data compiled by Bloomberg.

BlackRock weathered a market rout with the Standard & Poor’s 500 Index posting its worst third-quarter since 2011 while investors pulled about $40 billion from developing economies, the most since the 2008 financial crisis, according...


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