Second-quarter net income more than tripled at BlackRock as the investment manager incorporated Merrill Lynch Investment Managers. Revenue climbed to $1.1 billion in the second quarter from $360.7 million in the prior year quarter, as income from the clients of Merrill Lynch Investment Managers, acquired in September 2006 was brought into account. But the New York-based asset manager's profit margin slipped to 36.1 per cent from 36.7 per cent in the prior year on higher compensation expenses. Second-quarter net income was $222.2 million, having attracted $51.4 billion in net new assets during the quarter, bringing assets under management to $1.23 trillion. Performance fees fell from to $25.7 million from $69.9 million in the second quarter of last year.