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BlackRock (BLK)

Stock (Asset Management Industry, Brokerage Industry, Financial Services Industry)

4Q Earnings Blowout BlackRock announced that its 4Q 2007 net income increased by 90% over a year ago, driven by investors continued flight to its lower risk funds. BlackRock announces 3Q profit surge Investors worried about the credit turmoil in the markets invested heavily in many of BlackRock's safer funds, which boosted BlackRock's third-quarter income. BlackRock reported a third-quarter income of $255.2 million, up from $18.9 million the third quarter in 2006. Earnings this quarter amounts to $1.94 a share, which beat analysts' expectations of $1.91 a share. This caused the price increase seen during that day.

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