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How Will BlackRock (BLK) Stock React to Mixed Q3 Results?

NEW YORK (TheStreet) -- BlackRock (BLK) reported mixed results for the 2016 third quarter before Tuesday's opening bell.

The New York City-based asset management company posted adjusted earnings of $5.14 per diluted share, higher than analysts' estimates for earnings of $5 per share.

Revenue declined 3% year-over-year to $2.84 billion and was below Wall Street's projections of $2.88 billion.

The company ended the quarter with $5.12 trillion in assets under management, up 14% year-over-year.

"In the third quarter, even as investor preferences continued to...