BlackRock's second-quarter profit rises on market momentum

BlackRock BLK posted a rise in second-quarter profit on Tuesday after an equities rally boosted fee-earning assets for the world's largest asset manager.

The company's net income came in at $1.59 billion, or $10.19 per share, for the three months ended June 30, up from $1.50 billion, or $9.99 per share, a year earlier.