Blackrock Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Blackrock Inc. (BLK) announced earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $1.60 billion, or $10.66 per share. This compares with $1.41 billion, or $9.25 per share, in last year's third quarter.

Excluding items, Blackrock Inc. reported adjusted earnings of $1.64 billion or $10.91 per share for the period.

Analysts on average had expected the company to earn $8.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.9% to $4.52 billion from $4.31 billion last year.

Blackrock Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.60 Bln. vs. $1.41 Bln. last year. -EPS (Q3): $10.66 vs. $9.25 last year. -Analyst Estimate: $8.26 -Revenue (Q3): $4.52 Bln vs. $4.31 Bln last year.