Blackrock Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Blackrock Inc. (BLK) revealed a profit for first quarter that decreased from the same period last year.

The company's profit totaled $1.05 billion, or $6.61 per share. This compares with $1.09 billion, or $6.68 per share, in last year's first quarter.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.05 billion or $6.61 per share for the period.

Analysts had expected the company to earn $6.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.4% to $3.35 billion from $3.58 billion last year.

Blackrock Inc. earnings at a glance:

-Earnings (Q1): $1.05 Bln. vs. $1.09 Bln. last year. -EPS (Q1): $6.61 vs. $6.70 last year. -Analysts Estimate: $6.13 -Revenue (Q1): $3.35 Bln vs. $3.58 Bln last year.