BlackRock Q2 Earnings Higher, Above Consensus

BlackRock, Inc. (BLK) on Wednesday reported net income of $1.378 billion or $8.92 per share in the second quarter, higher than $1.214 billion or $7.85 per share in the same quarter a year ago, helped by good increase in its under under management.

Excluding items, earnings were $1.549 billion or $10.03 per share in the quarter, that beat the average estimate of thirteen analysts polled by Thomson Reuters at $9.36 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 32% to $4.82 billion from $3.648 billion last year. The consensus estimate was for $4.61 billion.

The company said its asset under management increased 30% year-over-year to $9.495 trillion in the second quarter.

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