BlackRock reports record assets in first quarter, shares rise

Shares of BlackRock BLK.N rise 1% to $868 after company reports Q1 results

BlackRock's reports a 17% surge in its primary revenue source, investment advisory and administration fees in the quarter

Assets managed rose to $11.58 trillion from $10.47 trillion from the year-ago period

Company 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, according to data compiled by LSEG

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