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BlackRock tops Street 4Q forecasts

NEW YORK (AP) _ BlackRock Inc. (BLK) on Friday reported fourth-quarter earnings of $2.3 billion.

The New York-based company said it had net income of $14.07 per share. Earnings, adjusted for pretax gains, were $6.24 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $6.07 per share.

The investment firm posted revenue of $3.47 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $3.35 billion.

For the year, the company reported profit of $4.97 billion, or $30.23 per share. Revenue was reported as $12.49 billion.

BlackRock shares have climbed roughly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 3.5 percent. The stock has risen 41 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