BlackRock: Q3 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — BlackRock, Inc. (BLK) on Wednesday reported third-quarter profit of $1.66 billion.

On a per-share basis, the New York-based company said it had profit of $10.57. Earnings, adjusted for non-recurring costs and amortization costs, were $15.93 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $13.97 per share.

The investment firm posted revenue of $7.75 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $7.46 billion.

BlackRock shares have decreased slightly since the beginning of the year, while the S&P's 500 index has risen 14%. The stock has declined roughly 8% in the last 12 months.

_____

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