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BlackRock: Q3 Earnings Snapshot

BlackRock: Q3 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — BlackRock Inc. (BLK) on Friday reported third-quarter net income of $1.6 billion.

The New York-based company said it had net income of $10.66 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $10.91 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $8.47 per share.

The investment firm posted revenue of $4.52 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $4.55 billion.