Blackrock Inc. (BLK) has reported its second-quarter earnings, showcasing a notable increase compared to the same period last year, surpassing Wall Street's expectations.
The financial giant posted a profit of $1.495 billion, or $9.99 per share, up from $1.366 billion, or $9.06 per share, in the previous year's second quarter. On an adjusted basis, Blackrock Inc. achieved earnings of $1.550 billion, or $10.36 per share, for the period.
Analysts, based on data from Thomson Reuters, had anticipated earnings of $9.95 per share, excluding any special items.
Revenue for the quarter saw a 7.7% rise, reaching $4.805 billion, compared to $4.463 billion in the same quarter last year.
Summary of Blackrock Inc.'s Second Quarter Earnings (GAAP):
- Earnings (Q2): $1.495 billion vs. $1.366 billion last year
- EPS (Q2): $9.99 vs. $9.06 last year
- Revenue (Q2): $4.805 billion vs. $4.463 billion last year
