BlackRock: 4Q Earnings Snapshot
NEW YORK (AP) _ BlackRock Inc. (BLK) on Thursday reported fourth-quarter earnings of $1.55 billion.
On a per-share basis, the New York-based company said it had net income of $10.02. Earnings, adjusted for non-recurring costs, were $10.18 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $9.17 per share.
The investment firm posted revenue of $4.48 billion in the period.
For the year, the company reported profit of $4.93 billion, or $31.85 per share. Revenue was reported as $16.2 billion.
BlackRock shares have risen 8% since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 1%. The stock has increased 49% in the last 12 months.