Mubasher: BlackRock Inc. on Wednesday posted its profits and earning for the third quarter of the current fiscal year, beating Wall Street estimations.
The world's biggest asset manager said its bottom line advanced to $969 million in the three-month period ended September from $854 million in the prior-year period.
The New York-based company earned $5.92 per share in the July-September period, whereas analysts were expecting earnings of $5.56.
The company’s revenues rose 13.7% for the three-month period to $3.23 billion from $2.84 billion in the corresponding period last year.
Assets under BLK’s management recorded $5.98 trillion in at the end of September, versus managed assets of $5.69 trillion at the end of June.
BlackRock’s stock closed Tuesday’s trading session up 0.7% to $465.5.
