(Bloomberg) -- BlackRock Inc., the worlds biggest money manager, said fourth-quarter earnings increased 24 percent as its exchange-traded funds drew client deposits and assets rose.
Shares rose the most in almost six months. Net income climbed to $690 million, or $3.93 a share, from $555 million, or $3.05, a year earlier, the New York-based company said today in a statement. Profit beat the $3.71 a share average estimate of six analysts surveyed by Bloomberg. BlackRock increased its quarterly dividend 12 percent to $1.68 a share and expanded its share buyback program.
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