BlackRock Q4 net income increases

BlackRock, Inc., an investment management firm, has reported that net income attributable to the company for the fourth quarter ended December 31, 2012 was $690 million, or $3.93 per diluted share, compared to $555 million, or $3.05 per diluted share, for the fourth quarter ended December 31, 2011.

Total revenue for the fourth quarter ended December 31, 2012 was $2.54 billion, compared to $2.23 billion for the fourth quarter ended December 31, 2011.

Net income attributable to the company for the year ended December 31, 2012 was $2.46 billion, or $13.79 per diluted share, compared to $2.34 billion, or $12.37 per diluted share, for the year ended December 31, 2011.

Total revenue for the year ended December 31, 2012 was $9.34 billion, compared to $9.08 billion for the year ended December 31, 2011.

"BlackRock's financial performance in 2012 was strong by any measure," commented Laurence Fink, chairman and CEO of BlackRock. "We closed the year with record earnings for both the quarter and the year. We improved investment performance in key areas and our work with clients was rewarded with $107.7 billion of long-term net new business. Every client type contributed to these strong flows. Our results demonstrate not only the diversity of our platform and the breadth of our global product offering, but how we have differentiated the firm and continued to evolve in anticipation of our clients' needs."