NEW YORK (AP) — NEW YORK (AP) — BlackRock, Inc. (BLK) on Tuesday reported third-quarter profit of $1.32 billion.
The New York-based company said it had profit of $8.43 per share. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, came to $11.55 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $11.19 per share.
The investment firm posted revenue of $6.51 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $6.25 billion.
BlackRock shares have climbed 13% since the beginning of the year, while the S&P’s 500 index has climbed 13%. The stock has climbed 17% 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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