BlackRock Q4 Adj. Profit Beats Estimate - Quick Facts

(RTTNews) - BlackRock Inc. (BLK) reported fourth-quarter net income attributable to the company of $813 million or $4.77 per share, compared to $841 million or $4.86 per share in the year-ago quarter.

Adjusted net income was $821 million or $4.82 per share, up from $851 million or $4.92 per share in the prior year period. Analysts polled by Thomson Reuters expected the company to report earnings of $4.70 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the latest fourth quarter rose to $2.784 billion from $2.777 billion in the comparable quarter last year. Wall Street expected revenues of $2.89 billion.

Further, the company said its Board of Directors approved a 13% increase in quarter cash dividend to $2.18 per share of common stock, payable March 24, 2015 to shareholders of record at the close of business on March 6, 2015.

In January 2015, the Board of Directors has authorized the Company to repurchase an additional 6.0 million shares under its existing share repurchase program for a total up to 9.4 million shares of BlackRock common stock.