Total revenues for the quarter rose 9% to $2.45 billion from $2.25 billion in the year ago quarter.
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For the quarter ended 31 March 2013, the company’s assets under management (AUM) rose to $3.936 trillion, 7% higher than last year.
BlackRock said that its iShares ETF business saw net long-term inflows of $25.6 billion during the quarter, boosting AUM for that business to $802.8 billion.
The company added that investors withdrew more money than they added into its bond funds, pulling out $2.6 billion. They also withdrew $2.2 billion from currency funds, while adding $9 billion to multi-asset portfolios and $1.5 billion to core alternative funds.
Overall, net long-term investor inflows across all of BlackRock’s products totaled $39.4 billion for the quarter.
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By GlobalDataCommenting on the results, Laurence Fink, chairman and CEO of BlackRock, said: "Our strong first quarter financial results, with revenue up 9% and EPS up 16% year-over-year, once again demonstrate the strength of our diversified business model.
"Our $39.4 billion in long-dated net new business for the quarter is indicative of positive momentum across all client channels and was driven by the strategic themes we continue to focus on: ETFs, retirement, income, multi-asset class products, and alternatives," Fink added.
