BlackRock Income And Revenue Nearly Double (BLK)

BlackRock, Inc. BLK announced on Wednesday morning that it beat consensus Wall Street estimates. BlackRock, Inc. (BLK) reported that its 2nd quarter net income jumped 98% to $432 million, or $2.21 per share, up from $218 million, or $1.59 per share, a year earlier. Excluding special items, the company earned $2.37 per share. BlackRock's revenue also nearly doubled, surging to $2.03 billion, up from $1.03 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $2.30 per share, on revenue of $2.02 billion. The consensus price target of analysts covering the stock is $193.83 per share. New York city based BlackRock, Inc. is a publicly owned company that primarily provides investment management, risk management, and advisory services to institutional, intermediary, and individual investors. The firm manages the accounts of corporate, public, union and industry pension plans, insurance companies, corporations, endowments, third-party mutual funds, foundations, charities, and banks. Read more from Benzinga's Company news.