NEW YORK (AP) — NEW YORK (AP) — BlackRock, Inc. (BLK) on Thursday reported fourth-quarter profit of $1.13 billion.

The New York-based company said it had net income of $7.16 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $13.16 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $12.39 per share.

The investment firm posted revenue of $7.01 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $6.75 billion.

For the year, the company reported profit of $5.55 billion, or $35.31 per share. Revenue was reported as $24.22 billion.

BlackRock shares have risen 2% since the beginning of the year, while the S&P’s 500 index has risen 1%. The stock has climbed 13% in the last 12 months.

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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