NEW YORK (AP) — NEW YORK (AP) — BlackRock Inc. (BLK) on Monday reported second-quarter earnings of $1.5 billion.
On a per-share basis, the New York-based company said it had net income of $9.99. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $10.36 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $9.96 per share.
The investment firm posted revenue of $4.81 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $4.86 billion.
BlackRock shares have risen 2% since the beginning of the year, while the S&P's 500 index has increased 18%. The stock has risen 12% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLK at https://www.zacks.com/ap/BLK
