Blackrock Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Blackrock Inc. (BLK) released a profit for its second quarter that Increased from last year and beat the Street estimates.

The company's bottom line came in at $1.593 billion, or $10.19 per share. This compares with $1.495 billion, or $9.99 per share, last year.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.883 billion or $12.05 per share for the period.

Analysts on average had expected the company to earn $10.60 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 12.9% to $5.423 billion from $4.805 billion last year.

Blackrock Inc. earnings at a glance (GAAP) :

-Earnings: $1.593 Bln. vs. $1.495 Bln. last year. -EPS: $10.19 vs. $9.99 last year. -Revenue: $5.423 Bln vs. $4.805 Bln last year.