Blackrock Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Blackrock Inc. (BLK) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $1.37 billion, or $9.06 per share. This compares with $1.08 billion, or $7.06 per share, in last year's second quarter.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.40 billion or $9.28 per share for the period.

Analysts on average had expected the company to earn $8.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.5% to $4.46 billion from $4.53 billion last year.

Blackrock Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.37 Bln. vs. $1.08 Bln. last year. -EPS (Q2): $9.06 vs. $7.06 last year. -Analyst Estimate: $8.46 -Revenue (Q2): $4.46 Bln vs. $4.53 Bln last year.