BlackRock: 2Q Earnings Snapshot
NEW YORK (AP) _ BlackRock Inc. (BLK) on Friday reported second-quarter net income of $1 billion.
On a per-share basis, the New York-based company said it had net income of $6.41.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $6.52 per share.
The investment firm posted revenue of $3.52 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $3.55 billion.
BlackRock shares have risen 21% since the beginning of the year, while the Standard & Poor’s 500 index has risen 19%. The stock has dropped 7% in the last 12 months.