Armed with its first full period of earnings since buying Barclays Global Investors, BlackRock Inc. announced its profits quintupled in the first quarter.
On the strength of the $13.5 billion acquisition, BlackRock reported Monday a profit of $423 million, or $2.17 per share, up from $84 million, or 62 cents per share, a year earlier. Excluding certain items, earnings rose to $2.40 from 81 cents. Revenue more than doubled to $2 billion.
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