Blackrock Inc. Q2 Profit Increases, Beats Estimates

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

The company's earnings totaled $1.495 billion, or $9.99 per share. This compares with $1.366 billion, or $9.06 per share, in last year's second quarter.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.550 billion or $10.36 per share for the period.

Analysts on average had expected the company to earn $9.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.7% to $4.805 billion from $4.463 billion last year.

Blackrock Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.495 Bln. vs. $1.366 Bln. last year. -EPS (Q2): $9.99 vs. $9.06 last year. -Revenue (Q2): $4.805 Bln vs. $4.463 Bln last year.