Blackrock Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Blackrock Inc. (BLK) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $1.44 billion, or $9.35 per share. This compares with $1.20 billion, or $7.77 per share, in last year's first quarter.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.46 billion or $9.52 per share for the period.

Analysts on average had expected the company to earn $8.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.8% to $4.70 billion from $4.40 billion last year.

Blackrock Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.44 Bln. vs. $1.20 Bln. last year. -EPS (Q1): $9.35 vs. $7.77 last year. -Analyst Estimate: $8.84 -Revenue (Q1): $4.70 Bln vs. $4.40 Bln last year.