BlackRock Pulls In $130 Billion of Client Cash as Fees Boom

BlackRock Inc. took in a net $130 billion of client cash in the first quarter as its focus on higher-fee products helped deliver earnings that beat estimates.

BlackRock’s adjusted earnings per share in the quarter rose 11% from a year ago to $12.53, the company said Tuesday in a statement. That beat the average estimate of $11.48 among analysts surveyed by Bloomberg. Revenue rose 27% to $6.7 billion from the year-ago quarter.