BlackRock reports record assets in Q1, shares rise

Shares of BlackRock BLK.N rise 1.3% to $870 premarket after Q1 results

BlackRock's chief source of revenue, investment advisory and administration fees, jumps 17% from last year in Q1

Assets under management rise 10.6% from last year to $11.58 trillion, but flat from previous quarter

Co reports net income of $1.51 billion for Q1, down from $1.57 billion a year earlier

Analysts, on average, expected net income at $1.54 billion - LSEG data

BLK shares are down 16.2% YTD, compared to a 10.4% fall in the S&P 500 .SPX; shares rose 26.3% in 2024