reported Wednesday second-quarter profit and revenue that rose above expectations, as assets under management (AUM) increased 30% and net inflows topped $80 billion. The investment management company’s stock was indicated down about 0.1% in premarket trading. Net income rose to $1,38 billion, or $8.92 a share, from $1.21 billion, or $7.85 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $10.03 from $7.85, beating the FactSet consensus of $9.44. Revenue increased 32% to $4.82 billion, above the FactSet consensus of $4.63 billion, amid higher performance fees and 14% growth in technology services. AUM rose 30% to $9.50 trillion. Total net inflows for the quarter totaled $81 billion, while active net inflows were $63 billion, and were positive across all product types. The stock, which closed at a record $915.92 on Monday, has run up 25.9% year to date, while the S&P 500
has gained 16.3%.