BlackRock Inc. (BLK) has reported an increase in its fourth-quarter profit compared to the same period last year, surpassing Wall Street expectations. The firm recorded earnings of $1.670 billion, equating to $10.63 per share, a rise from the previous year's $1.375 billion, or $9.15 per share.
When excluding specific items, BlackRock announced adjusted earnings of $1.874 billion, or $11.93 per share, for the quarter. This performance exceeded the average analyst prediction of $11.22 per share, based on data from Thomson Reuters, which typically does not account for special items.
Revenue for the quarter saw a notable increase of 22.6%, reaching $5.677 billion, up from $4.631 billion in the previous year.
A summary of BlackRock Inc.'s earnings according to GAAP is as follows:
- Fourth Quarter Earnings: $1.670 billion, compared to $1.375 billion the previous year.
- Earnings Per Share (EPS) for Q4: $10.63, up from the last year's $9.15.
- Q4 Revenue: $5.677 billion, rising from $4.631 billion last year.
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