BlackRock said second-quarter profit climbed 32% as rising stock markets boosted fees.

Net income rose to $729 million, or $4.19 a share, from $554 million, or $3.08, a year earlier, the New York-based company said today in a statement. Excluding certain items, adjusted earnings of $4.15 a share beat the $3.81 average estimate of 21 analysts surveyed by Bloomberg.

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