BlackRock Profit Rose 23% in 3rd Quarter, Helped by Actively Managed Funds

BlackRock Inc.’s third-quarter revenue rose 23% throughout a risky stretch for markets as the corporate took in extra money in its profitable actively managed funds.

The money-management firm posted a revenue of $1.68 billion, or $10.89 a share, for the quarter ended September, up from $1.36 billion, or $8.87 a share, a 12 months earlier. The firm beat analysts’ revenue expectations.

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