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Why BlackRock Just Missed its Expected Earnings

DC: BlackRock CEO Laurence FinkDC: BlackRock CEO Laurence Fink
Fink speaks during the General Membership Meeting of the Investment Company Institute in Washington, D.C.Photograph by Kris Tripplaar — Sipa USA/AP

BlackRock CEO Larry Fink said on Thursday that his company missed earnings expectations as Wall Street analysts were “anticipating higher performance fees” on hedge funds.