BlackRock said first-quarter earnings rose 10% as its exchange-traded stock funds drew client cash and assets increased.

Net income climbed to $632 million, or $3.62 a share, from $572 million, or $3.14, a year earlier, the New York-based company said on Tuesday, in a statement. Excluding certain items, BlackRock’s adjusted earnings of $3.65 a share beat the $3.57 average estimate of 20 analysts surveyed by Bloomberg.

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