The company posted adjusted earnings of $1.36 billion, or $8.93 per share, in the three months to Dec. 31, down from $1.65 billion, or $10.68 per share, a year earlier.
AUM at $8.59 Trillion
Assets under management (AUM) stood at $8.59 trillion at the end of the quarter, down from a little more than $10 trillion a year earlier but up from $7.96 trillion in the third quarter.
Impact of Lower Markets and Dollar Appreciation
Full-year revenue declined by 8% last year, "primarily driven by the impact of significantly lower markets and dollar appreciation on average AUM and lower performance fees", a BlackRock statement said. The company registered $146 billion in long-term net inflows in the fourth quarter.
