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Updated · MarketWatch · Apr 30T. Rowe Price beats analyst estimates with higher adjusted first-quarter earnings
13 articles · Updated · MarketWatch · Apr 30
- The Baltimore asset manager reported adjusted earnings of $2.52 a share, net income of $498.2 million and revenue of $1.86 billion for the quarter.
- Assets under management rose 9.2% from a year earlier to $1.71 trillion, as stronger market values helped offset $13.7 billion in net client outflows.
- Reported earnings were $2.23 a share, up from $2.15 a year earlier, while adjusted earnings topped the FactSet-compiled analyst consensus of $2.33.
With billions in client outflows, is T. Rowe Price's profit growth a temporary market illusion? Will T. Rowe Price's AI investments capture the trillions being inherited by younger generations?