UPDATE: BlackRock Q3 Profit Surges 14%

BlackRock BLK reported a 14% gain in its third-quarter profit. BlackRock's quarterly profit surged to $730 million, or $4.21 per share, from $642 million, or $3.65 per share, in the year-ago period. Excluding one-time items, it earned $3.88 per share. Its revenue gained 6.6% to $2.47 billion. However, analysts were expecting a profit of $3.88 per share on revenue of $2.48 billion. BlackRock shares closed at $282.27 yesterday.