BlackRock Results Top Street Expectations in Third Quarter

On Wednesday, one of the world's leading asset management firms and premier provider of investment management, BlackRock, reported earnings of $917 million or $5.21 a share for its third quarter. That's up one dollar a share from a year earlier. The results beat Wall Street expectations, whereas analysts had expected BlackRock to post earnings of $4.67 per share. Revenue for the investment firm rose to $2.85 billion also topping Street expectations, analysts had expected an estimated revenue of $2.82 billion. The company's shares have fallen 3% since the beginning of this year and the stock has risen 9% in the last year.