(Bloomberg) -- BlackRock Inc.’s quest to build scale by focusing on exchange-traded funds is reaping rewards.

The world’s largest asset manager pulled in $52 billion in its iShares ETF business in the third quarter, helping the firm exceed analysts’ revenue estimates for the first time in four quarters. And showing just how much BlackRock is an industry juggernaut, total assets under management surged to almost $6 trillion.

BlackRock has benefited from a flood of money into cheaper passive products as investors opt for those over higher fee active funds. Price cuts have also helped. The firm last October reduced prices on 15 core ETFs aimed at price sensitive retail clients and financial advisers. BlackRock has made up for any fee reductions with increased flows into those funds, Chief Executive Officer Laurence D. Fink said on the company’s earnings conference call.