WASHINGTON (dpa-AFX) - Blackrock Inc. (BLK) announced a profit for fourth quarter that Decreased from last year but beat the Street estimates.
The company's earnings came in at $1.127 billion, or $7.16 per share. This compares with $1.670 billion, or $10.63 per share, last year.
Excluding items, Blackrock Inc. reported adjusted earnings of $2.176 billion or $13.16 per share for the period.
Analysts on average had expected the company to earn $12.21 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 23.4% to $7.008 billion from $5.677 billion last year.
Blackrock Inc. earnings at a glance (GAAP) :
-Earnings: $1.127 Bln. vs. $1.670 Bln. last year. -EPS: $7.16 vs. $10.63 last year. -Revenue: $7.008 Bln vs. $5.677 Bln last year.
The company will pay a quarterly cash dividend of $5.73 per share on March 24 to shareholders of record as of March 6.
BLK was up by 1.162% at $1,110.75 in the pre-market trade on the New York Stock Exchange.
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