(RTTNews) - BlackRock, Inc. (BLK) reported that its second-quarter net earnings increased to $1.21 billion or $7.85 per share from $1.00 billion or $6.41 per share in the year-ago quarter.
Total revenue for the quarter increased 4 percent to $3.65 billion from $3.52 billion in the same quarter last year, driven by higher performance fees and 17% growth in technology services revenue, driven by continued Aladdin momentum.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $6.97 per share on revenues to $3.46 billion for the quarter. Analysts' estimates typically exclude special items.
The company's broad investment platform generated $100.22 billion of total net inflows, driven by fixed income and continued momentum in cash management.
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