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BlackRock Q2 Profit Rises, Results Top Estimates - Quick Facts

(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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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