NEW YORK (AP) — NEW YORK (AP) — BlackRock Finance, Inc. (BLK) on Friday reported third-quarter earnings of $1.63 billion.
On a per-share basis, the New York-based company said it had profit of $10.90. Earnings, adjusted for one-time gains and costs, were $11.46 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $10.42 per share.
The investment firm posted revenue of $5.2 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $5 billion.
BlackRock Finance shares have climbed 18% since the beginning of the year, while the S&P’s 500 index has risen 21%. The stock has increased 49% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLK at https://www.zacks.com/ap/BLK
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