NEW YORK (AP) _ BlackRock Inc. (BLK) on Wednesday reported third-quarter profit of $1.68 billion.

The New York-based company said it had profit of $10.89 per share. Earnings, adjusted for non-recurring costs, were $10.95 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $9.54 per share.

The investment firm posted revenue of $5.05 billion in the period.

BlackRock shares have risen 16% since the beginning of the year, while the S&P's 500 index has increased 16%. The stock has increased 36% 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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