Shares of BlackRock (BLK 0.16%) ended the week on a high note, even though the sprawling financial services company reported a steep fall in net inflows for its first quarter of fiscal 2020.

For the quarter, in spite of that decline -- which was 46% on a year-over-year basis to just under $35 billion -- the company managed to increase its revenue. This line item grew by 11% to $3.71 billion. On a GAAP basis, net income decreased by 23% to land at $806 million ($6.61 per share). Non-GAAP (adjusted) profitability saw a gentler fall, slipping 2% to $1.03 billion.

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That GAAP per-share net profit number was comfortably higher than the average analyst estimate of $6.38. Revenue also landed north of the consensus prognosticator expectation of $3.65 billion. Anticipations were for $62 billion in net inflows, however.

During the quarter, BlackRock benefited from significant growth in its technology services revenue, which rose by 34%. Another cited factor was an increase in base fees.

In a conference call discussing its Q1 performance, BlackRock pledged to at least maintain its quarterly dividend; this was raised by 10% to $3.63 at the beginning of the year. It also said that it would continue its share buyback program, albeit at a reduced level -- with approximately $300 billion in such purchases every quarter, as opposed to the roughly $400 billion in Q1.

Friday was a fine day to be an investor in the company. Its shares rose by 3.9%, outpacing the gains of many top stocks and the wider equities market.