T. Rowe 1Q Profit Up as Rising Asset Values Offset Client Outflows

Dow Jones
04/30
 

By Rob Curran

 

T. Rowe Price Group's first-quarter net income rose as an increase in asset prices offset fund outflows.

The Baltimore fund-management giant posted earnings of $498.2 million, or $2.23 a share, up from $490.5 million, or $2.15 a share, a year earlier.

Stripping out certain one-off items, T.Rowe posted adjusted earnings of $2.52 a share, far surpassing the mean analyst target of $2.33 a share, as per FactSet.

Revenue rose 5.3% to $1.86 billion, in line with the average analyst target.

The company ended the quarter with $1.71 trillion in assets under management, up 9.2% from a year earlier. Net client outflows amounted to $13.7 billion.

 

Write to Rob Curran at rob.curran@dowjones.com

 

(END) Dow Jones Newswires

April 30, 2026 07:40 ET (11:40 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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