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NEW YORK (AP) — NEW YORK (AP) — BlackRock Finance, Inc. (BLK) on Wednesday reported fourth-quarter earnings of $1.67 billion.
The New York-based company said it had profit of $10.63 per share. Earnings, adjusted for one-time gains and costs, were $11.93 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $11.27 per share.
The investment firm posted revenue of $5.68 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $5.56 billion.
For the year, the company reported profit of $6.37 billion, or $42.01 per share. Revenue was reported as $20.41 billion.
BlackRock Finance shares have fallen 6% since the beginning of the year, while the S&P's 500 index has increased 22%. The stock has risen 22% 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