BlackRock, Inc. (NYSE:BLK) has released its earnings report for the first quarter of 2017.

During the first quarter of the year, BlackRock, Inc. reported earnings per share of $5.25. This is an increase over its earnings per share of $4.25 that was reported during the same time last year. It also came in above Wall Street’s earnings per share estimate of $4.90 for the quarter.

Revenue reported by BlackRock, Inc. in the first quarter of 2017 was $2.82 billion. This is up from the $2.62 billion in revenue that BLK reported in the first quarter of 2016. However, it failed to reach analysts’ revenue estimate of $2.87 billion for the first quarter of the year.

Operating income reported by BlackRock, Inc. in the first quarter of the year was $1.15 billion. This is a 19% increase over its operating income of $963 million that was reported in the same period of the year prior.

BlackRock, Inc. reported net income of $862 million during its first quarter of 2017. The investment management company reported a net income of $657 million in the same quarter of the previous year.

BlackRock, Inc. also reported that it paid a quarterly cash dividend of $2.50 per share to investors during its first quarter of 2017. This represents a 9% increase over the quarterly cash dividend that was paid for the same quarter in 2016.

“We began 2017 by repositioning our active equity platform and investing in our business for future growth,” Laurence Fink, Chairman and CEO of BlackRock, Inc., said in a statement. “Going forward, we will continue to transform change into opportunity, using our advantaged market position to create better financial futures for clients and drive long-term growth for shareholders.”

BLK stock was down 1% as of Wednesday morning.