NEW YORK (AP) — NEW YORK (AP) — BlackRock, Inc. (BLK) on Tuesday reported second-quarter profit of $1.59 billion.

On a per-share basis, the New York-based company said it had profit of $10.19. Earnings, adjusted for amortization costs and non-recurring costs, were $12.05 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $10.71 per share.

The investment firm posted revenue of $5.42 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $5.44 billion.

BlackRock shares have climbed slightly more than 8% since the beginning of the year, while the S&P's 500 index has climbed almost 7%. The stock has risen 34% in the last 12 months.

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

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