Hedge Fund News From HedgeCo.Net

Is BlackRock the Amazon.com of Investing?

(Bloomberg) BlackRock Inc. just rocked. Sort of. The world’s biggest asset manager reported Wednesday morning that its third quarter earnings rose 10 percent, solidly beating expectations for the first time in three quarters. The company earned $5.78 per share — analysts were expecting $5.54 per share. Its revenue of $3.2 billion also exceeded expectations for the first time in 15 months, and its shares rose $9.50, or 2 percent, to $475 in pre-market trading.

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