BlackRock: 4Q Earnings Snapshot
NEW YORK (AP) _ BlackRock Inc. (BLK) on Wednesday reported fourth-quarter earnings of $1.3 billion.
On a per-share basis, the New York-based company said it had profit of $8.29. Earnings, adjusted for non-recurring costs, were $8.34 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.67 per share.
The investment firm posted revenue of $3.98 billion in the period.
For the year, the company reported profit of $4.48 billion, or $28.43 per share. Revenue was reported as $14.54 billion.
BlackRock shares have increased 3% since the beginning of the year, while the Standard & Poor’s 500 index has increased 31%. The stock has increased 31% in the last 12 months.