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Banking and Finance Business

BlackRock profit beats Street estimates as markets rebound

BlackRock Inc’s (BLK.N) results topped Wall Street estimates on Friday, helped by investors flocking to the world’s largest asset manager’s bond funds in the second quarter as global financial markets rebounded strongly from a COVID-sparked brutal selloff in March.

BlackRock ended the quarter with $7.32 trillion in assets under management, up from $6.84 trillion a year earlier.

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