BlackRock quarterly profit falls 20%

[NEW YORK] BlackRock Inc, the world's largest asset manager, said on Thursday its profit fell about 20 per cent during a first quarter that featured a dramatic reversal for markets.

The New York-based company's net income fell to US$657 million, or US$3.92 per share, in the three months ended March 31, from US$822 million, or US$4.84 per share, a year earlier.

REUTERS