Yet shares of BlackRock, which also reported earnings that topped forecasts, fell 3% Friday.
CEO Larry Fink acknowledged continued challenges for the global economy and financial markets.
Soaring inflation is eating into consumer’s paychecks. The Federal Reserve and other central banks around the world are expected to cut rates to tame surging prices. But overly aggressive rate hikes could slow the economy.
And the Omicron variant of Covid-19 may put a dent into economic activity.
As Fink noted, “the world continues to navigate uncertainty and profound shifts in economies and societies at large.”