(Reuters) - The New York-based company said net income rose to $195.4 million, or $1.48 a diluted share, compared with $70.9 million or $1.06 cents per diluted share a year ago.
A year ago BlackRock absorbed Merrill Lynch's asset management division in return for Merrill gaining 49.8 percent of the enlarged BlackRock company. Costs for the deal weighed on first-quarter profit, BlackRock said, adding that adjusted first-quarter earnings were $1.59 while adjusted earnings, excluding real estate syndication charges and higher fund launch costs, would be $1.64.
Read more at Reuters.com Market News
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