WASHINGTON (dpa-AFX) - Blackrock Inc. (BLK) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $1.670 billion, or $10.63 per share. This compares with $1.375 billion, or $9.15 per share, in last year's fourth quarter.
Excluding items, Blackrock Inc. reported adjusted earnings of $1.874 billion or $11.93 per share for the period.
Analysts on average had expected the company to earn $11.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 22.6% to $5.677 billion from $4.631 billion last year.
Blackrock Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $1.670 Bln. vs. $1.375 Bln. last year. -EPS (Q4): $10.63 vs. $9.15 last year. -Revenue (Q4): $5.677 Bln vs. $4.631 Bln last year.
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