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BlackRock: 1Q Earnings Snapshot

NEW YORK (AP) _ BlackRock Inc. (BLK) on Tuesday reported first-quarter profit of $1.05 billion.

On a per-share basis, the New York-based company said it had net income of $6.61.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $6.20 per share.

The investment firm posted revenue of $3.35 billion in the period, matching Street forecasts.

BlackRock shares have increased 15 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 16 percent. The stock has fallen 14 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLK at https://www.zacks.com/ap/BLK