Blackrock Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Blackrock Inc. (BLK) released earnings for third quarter that Decreased from last year but beat the Street estimates.

The company's earnings totaled $1.323 billion, or $8.43 per share. This compares with $1.631 billion, or $10.90 per share, last year.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.907 billion or $11.55 per share for the period.

Analysts on average had expected the company to earn $11.31 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 25.2% to $6.509 billion from $5.197 billion last year.

Blackrock Inc. earnings at a glance (GAAP) :

-Earnings: $1.323 Bln. vs. $1.631 Bln. last year. -EPS: $8.43 vs. $10.90 last year. -Revenue: $6.509 Bln vs. $5.197 Bln last year.