BlackRock, the world's largest money manager, reported first-quarter earnings on Wednesday that beat analysts' expectations, but missed on revenue.
Here's what firm reported versus what the Street was expecting:
The company earned an adjusted $4.25 per share on revenue of $2.62 billion in the same quarter last year.
The company said its iShares exchange-traded
BlackRock also announced a 9 percent increase in its quarterly dividend to $2.50 per share and $275 million of share repurchases.
"BlackRock's first quarter results reflect the strategic decisions we have made to complement our investment capabilities with industry-leading technology," Chairman and CEO Larry Fink said in a statement.
"Alpha generation, risk management and technology have always been the cornerstone of BlackRock. As the world becomes increasingly complex and interconnected, technology is becoming even more essential to clients, transforming the way both institutions and wealth managers construct portfolios, manage asset allocation, understand risk and engage and connect with clients," he said.
Late last month, BlackRock said it would overhaul its active management business by cutting jobs, reducing fees, and increasing its use of computers to pick stocks.
Fink told CNBC earlier this month the company, which has $5.4 trillion in assets under management, is not substituting stock-picking computers for humans.
"We are reorienting some of the humans' jobs in terms of doing more data science and data analysis," Fink said on "Squawk Box" on April 6. "We'll have the same amount of employees in our equity division a year from now that we do today."
The change came as more investors abandon actively managed funds.
—CNBC's Matthew Belvedere contributed to this report.
Update: This story has been updated to reflect BlackRock's current total of assets under management.