NEW YORK (TheStreet) -- BlackRock (BLK) released its second quarter earnings results Wednesday, reporting a jump in revenue and profit that was ahead of analysts expectations.
The company reported a net income of $808 million, or $4.89 per diluted share excluding certain items, an improvement on the $4.19 a share it reported during the same quarter last year.
Revenue for the quarter was up 12% over the year ago period to $2.78 billion, ahead of analysts $2.72 billion estimates.
Meanwhile, the investment management firm's total assets also increased 19% from the year ago period to $4.59 trillion. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
TheStreet Ratings team rates BLACKROCK INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKROCK INC (BLK) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
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