Blackrock Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Blackrock Inc. (BLK) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $1.57 billion, or $10.48 per share. This compares with $1.16 billion, or $7.64 per share, in last year's first quarter.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.47 billion or $9.81 per share for the period.

Analysts on average had expected the company to earn $9.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.6% to $4.73 billion from $4.24 billion last year.

Blackrock Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.57 Bln. vs. $1.16 Bln. last year. -EPS (Q1): $10.48 vs. $7.64 last year. -Revenue (Q1): $4.73 Bln vs. $4.24 Bln last year.