BlackRock (NYSE: BLK) beat earnings estimates in the fourth quarter and saw revenue and earnings rise by double-digit rates. Revenue was up 13% year over year in the quarter to $4.5 billion, while net income jumped 19% to $1.5 billion, or $10.02 per share. Image source: Getty Images. The asset manager had $127 billion in net inflows into its investment products in the quarter, led by its iShares exchange-traded funds (ETFs), which had $78 billion in inflows. Retail mutual funds had $35 billion in inflows. Overall, fixed income products saw $62.7 billion in net inflows while equity funds had $48.1 billion in inflows. Investment advisory fees accounted for $3.4 billion of the $4.5 billion in quarterly revenue. For the year, BlackRock saw assets under management climb 17% to $8.6 trillion. Revenue surged 11% year over year to $16.2 billion, while net income rose 10% to $4.9 billion. Investment advisor fees were up 7% to $12.6 billion while BlackRock had a record $1.1 billion in performance fees and 17% growth in technology services revenue. And the firm reported $391 billion in net inflows for the full year, reflecting 5% asset growth and 7% fee growth. The company also said it is seeking board approval to increase its quarterly dividend later this month. It paid out $3.63 per share last quarter, or $14.52 per share annually. "We begin 2021 well-positioned and intend to keep investing in our business to drive long-term growth and to lead the evolution of the asset management industry," CEO Laurence Fink said. To that end, the company announced a minority investment in Clarity AI, a sustainability analytics firm. BlackRock's stock was up 47% in 2020 and is up 4.4% this year. 10 stocks we like better than BlackRockWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and BlackRock wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source