BlackRock earnings Q3 2017

BlackRock, the largest asset manager in the world, posted better-than-expected quarterly results on Wednesday.

Here’s how the company’s results compare to Wall Street’s expectations:

• EPS: $5.92 per share vs $5.56 expected, according to Thomson Reuters
• Revenue: $3.233 billion vs $3.096 billion expected, according to Thomson Reuters
• Total assets under management: $5.976 trillion vs $5.94 trillion expected, according to StreetAccount

“BlackRock’s third quarter results reflect the continued growth of our global investment and technology platform and the trusted relationships we have built with our clients,” CEO Larry Fink said in a release. (Note: Fink is scheduled to appear on CNBC’s “Squawk Box” later on Wednesday morning.)

The company’s stock has been on fire this year, advancing 21.5 percent. By comparison, the overall S&P 500 is up about 14 percent in the time period. BlackRock shares have also outperformed the financials sector, which is up 13 percent in 2017.

Earlier this year, the company announced it would use more computers to pick stocks as part of its efforts to overhaul its active management business.

BlackRock said in its second-quarter report that assets under management for its scientific active equity group had nearly doubled from the year-earlier period.

“So things have been coming along well. Big data, machine learning is certainly a huge driver for our alpha generation,” Jeff Shen, co-CIO of BlackRock’s scientific active equity group, told CNBC last week.