(Reuters) – BlackRock Inc (N:), the world’s biggest asset manager, posted a surge in fourth-quarter profit, helped by a $ 1.2 billion gain related to the enactment of the U.S. tax laws.
The New York-based company’s net income rose to $ 2.3 billion, or $ 14.07 per share, in the quarter ended Dec. 31 from $ 851 million, or $ 5.13. per share, a year earlier.
Excluding the benefit from the new tax law, BlackRock earned $ 6.24 per share.
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