Business
Fidelity’s Annual Profit Jumps After Market Rally Lifts Revenue to a Record
Fidelity Investments said that profits rose to a record after an extended market rally drew billions in new customer money into its investment accounts and funds.
FMR LLC, Fidelity Investments’ parent company, said its annual operating income jumped 24% to $12.7 billion, lifted by rising stock prices and interest rates. Revenue climbed 15% to $37.7 billion, also a record high.
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