NEW YORK (AP) _ BlackRock Inc. (BLK) on Wednesday reported third-quarter net income of $947 million.
The New York-based company said it had profit of $5.78 per share. Earnings, adjusted for non-recurring costs, were $5.92 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $5.59 per share.
The investment firm posted revenue of $3.23 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $3.1 billion.
BlackRock shares have climbed 22 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 14 percent. The stock has climbed 30 percent in the last 12 months.