BlackRock’s profit falls on lower commission income

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BlackRock Inc posted fourth-quarter profit falling on Friday as slumping global markets pressured fee income and assets under management fell in an uncertain economic environment.

On an adjusted basis, the world’s largest asset manager earned $1.36 billion, or $8.93 per share, in the three months ended Dec. 31, up from $1.65 billion, or $10.68 per share, a year earlier.

The average analyst forecast was for a profit of $8.11 per share, according to IBES data from Refinitiv.

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