BlackRock first-quarter profit falls 20 percent

BlackRock Inc , the world's largest asset manager, posted a 20 percent drop in first-quarter profit on Thursday amid a dramatic reversal in financial markets. BlackRock attracted total long-term net inflows of $36.08 billion in the quarterly period, down from $70.44 billion in the same quarter of 2015. On an adjusted basis, BlackRock earned $4.25 per share, falling short of the average analyst estimate of $4.29, according to Thomson Reuters I/B/E/S. Chief Executive Officer Larry Fink attributed