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BlackRock Inc. on Friday reported a second-quarter profit of $1.21 billion, for the three-month period ended June 30. (All figures are in U.S. dollars.)

The New York–based company said it had net income of $7.85 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $6.90 per share.

The investment firm posted revenue of $3.65 billion in the period.

BlackRock shares have increased 13% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has climbed 19% in the last 12 months.

In its July 17 report to investors, the global investment manager said quarterly net inflows were driven by “fixed income and continued momentum in cash management.” It also highlighted growth in assets and base fees, with particular strength recorded in active equity strategies.

Laurence D. Fink, founder, chairman and CEO of BlackRock Inc., said in the report that clients are depending more on the firm’s services.

“Clients are turning to BlackRock more than ever before as they face increasing uncertainty about the future, and we are bringing together the entirety of our differentiated platform to help them,” which is leading to “deeper partnerships” and growing assets, he said.

Alongside fixed income and active equity products, the company recorded mounting interest in “sustainable strategies and illiquid alternatives, where we are investing for future growth,” Fink said.