Blackrock Inc. Q3 Profit Increases, Beats Estimates

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

The company's bottom line totaled $1.631 billion, or $10.90 per share. This compares with $1.604 billion, or $10.66 per share, in last year's third quarter.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.715 billion or $11.46 per share for the period.

Analysts on average had expected the company to earn $10.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.9% to $5.197 billion from $4.522 billion last year.

Blackrock Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.631 Bln. vs. $1.604 Bln. last year. -EPS (Q3): $10.90 vs. $10.66 last year. -Revenue (Q3): $5.197 Bln vs. $4.522 Bln last year.