ETFs Driving BlackRock Profit Growth

BlackRock (NYSE: BLK), the world’s largest asset manager, said its fourth-quarter profit surged 24% to $841 million, or $4.86 per share, up from $690 million, or $3.93 per share, a year earlier. On an adjusted basis, the parent company of iShares, the world’s largest ETF sponsor, earned $4.92 a...