BlackRock Q3 Profit Beats Estimates

(RTTNews) - BlackRock, Inc. (BLK) reported third-quarter net income attributable to company of $843 million or $5.00 per share compared to $917 million or $5.37 per share, last year. Adjusted net income attributable to BlackRock was $844 million or $5.00 per share, for the quarter.

On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $4.57 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $2.91 billion compared to $2.85 billion, a year ago. Analysts expected revenue of $2.82 billion for the quarter.

Laurence Fink, CEO of BlackRock, said: "BlackRock's third quarter 2015 results, including year-over-year growth in revenue and operating income, demonstrate the resilience of our global, diversified investment platform. Clients seeking long-term investment solutions, strong risk management and durable alpha generation turned to BlackRock amidst challenging market conditions, driving total net inflows of $50 billion. Long-term net inflows of $35 billion reflected positive flows across investment styles and client types."