BlackRock Earnings Cheat Sheet: Profits Climb By Double Figures Again

BlackRock, Inc. (NYSE:BLK) reported its results for the second quarter. BlackRock, Inc.along with its subsidiaries provides investment management services to institutional clients and to individual investors through various investment vehicles.

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BlackRock Earnings Cheat Sheet for the Second Quarter

Results: Net income for the investment brokerage rose to $619 million ($3.21 per share) vs. $432 million ($2.21 per share) in the same quarter a year earlier. This marks a rise of 43.3% from the year earlier quarter.

Revenue: Revenue rose 16% $2.35 billion last quarter.

Actual vs. Wall St. Expectations: BLK reported adjusted net income of $3 per share. By that measure, the company beat the mean estimate of $2.92 per share. Analysts were expecting revenue of $2.34 billion.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 34.3% and in the fourth quarter of the last fiscal year, the figure rose more than twofold.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 21 cents in the first quarter, by 52 cents in the fourth quarter of the last fiscal year, and by 30 cents in the third quarter of the last fiscal year.

Competitors to Watch: Morgan Stanley (NYSE:MS), T. Rowe Price Group, Inc. (NASDAQ:TROW), American Intl. Group, Inc. (NYSE:AIG), Barclays PLC (NYSE:BCS), Bank of America Corp. (NYSE:BAC), Citigroup (NYSE:C), JP Morgan (NYSE:JPM), Goldman Sachs Group, Inc. (NYSE:GS), Invesco Ltd. (NYSE:IVZ), UBS AG (NYSE:UBS), Affiliated Managers Group, Inc. (NYSE:AMG), and Franklin Resources, Inc. (NYSE:BEN).

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(Source: Xignite Financials)