NEW YORK (AP) — NEW YORK (AP) — BlackRock, Inc. (BLK) on Wednesday reported second-quarter profit of $1.91 billion.
On a per-share basis, the New York-based company said it had profit of $12.19. Earnings, adjusted for amortization costs and non-recurring costs, were $13.91 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $12.67 per share.
The investment firm posted revenue of $7.08 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $6.83 billion.
BlackRock shares have decreased 4% since the beginning of the year, while the S&P’s 500 index has risen 10%. The stock has fallen nearly 8% 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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