The company also saw a 15% increase in operating income for the year.
Assets under management swelled to $6.29 billion vs. $5.15 billion year earlier.
U.S. investment behemoth Blackrock today posted record annual results, raking in $367bn (£269bn) during 2017. "Investments made in iShares ETFs drove expanded market share in 2017 and enabled us to once again capture the number one share of industry ETF flows globally, in the United States and Europe, and in both equity and fixed income products". Earnings on an adjusted basis were $1.02 billion, or $6.24 a share, up 20% from $852 million, or $5.14 a share for the same period.
BlackRock returned $2.8 billion to shareholders in 2017 and approved a 15% increase in the quarterly cash dividend to $2.88 per share. Analysts on an average expected the company to earn US$6.02 per share, according to Thomson Reuters.
'$367 billion of total net inflows for the year were the strongest flows in BlackRock's history, and included $103 billion in the fourth quarter.
- Surging Earnings Estimates Signal Good News for Anadarko Petroleum (APC)
- Seatown Holdings Pte. Ltd. Cuts Holdings in Amazon.com, Inc
- Investors Buy Shares of Time Warner (TWX) on Weakness
- Federica Brignone holds off stars in World Cup giant slalom
- Corey Feldman 'Under Investigation For Sexual Battery'
- Bank of America Initiates Coverage on Plains All American Pipeline (PAA)
- Pound gains ground as United Kingdom productivity rises to a six-year high
- European bond trading volumes plunge as traders adjust to Mifid II
- Rep. Steve King attends Oval Office signing of bill targeting opioid trafficking
- Spain's Sainz wins Dakar Rally sixth stage