T. Rowe Price Q1 earnings beat, helped by strong investment advisory fees

seekingalpha04-26

T. Rowe Price (NASDAQ:TROW) stock gained 3.5% in Friday premarket trading after the asset manager's Q1 earnings and revenue both exceeded Wall Street expectations as net client outflows receded and ...

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Rowe Price (NASDAQ:TROW) stock gained 3.5% in Friday premarket trading after the asset manager's Q1 earnings and revenue both exceeded Wall Street expectations as net client outflows receded and ...</p>\n\n<a href=\"https://seekingalpha.com/news/4094788-t-rowe-price-q1-earnings-beat-helped-by-strong-investment-advisory-fees\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>T. 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Rowe Price Q1 earnings beat, helped by strong investment advisory fees\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-26 19:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4094788-t-rowe-price-q1-earnings-beat-helped-by-strong-investment-advisory-fees><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>T. Rowe Price (NASDAQ:TROW) stock gained 3.5% in Friday premarket trading after the asset manager's Q1 earnings and revenue both exceeded Wall Street expectations as net client outflows receded and ...</p>\n\n<a href=\"https://seekingalpha.com/news/4094788-t-rowe-price-q1-earnings-beat-helped-by-strong-investment-advisory-fees\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TROW","symbol_name":"普信集团","start_time":0,"source_url":"https://seekingalpha.com/news/4094788-t-rowe-price-q1-earnings-beat-helped-by-strong-investment-advisory-fees","article_id":"2430278132","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/458875157/image_458875157.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430278132","pubTimestamp":1714131120,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"T. Rowe Price (NASDAQ:TROW) stock gained 3.5% in Friday premarket trading after the asset manager's Q1 earnings and revenue both exceeded Wall Street expectations as net client outflows receded and in","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TROW":"普信集团"},"translate_title":"T.Rowe Price Q1盈利超过预期，得益于强劲的投资咨询费","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TROW":1},"content_text":"T. Rowe Price (NASDAQ:TROW) stock gained 3.5% in Friday premarket trading after the asset manager's Q1 earnings and revenue both exceeded Wall Street expectations as net client outflows receded and investment advisory fees increased. \"While outflows will persist in 2024, we continue to believe that there will be substantial improvement this year, driven by higher sales and lower redemptions,\" said CEO and President Rob Sharps. Q1 adjusted EPS of $2.38, beating the average analyst estimate of $2.02, climbed from $1.72 in Q4 2023 and $1.69 in Q1 2023. Net revenue of $1.75B, topping the $1.70B consensus estimate, increased from $1.64B in the previous quarter and $1.54B a year ago. Assets under management were $1.54T at the end of the quarter, matching the Visible Alpha consensus and rising 6.8% from $1.44T at the end of Q4 2023. Net client outflows of $8B ebbed from outflows of $28.3B in the prior quarter. Market appreciation increased AUM by $105.7B. Investment advisory fees of $1.55B, vs. the Visible Alpha estimate of $1.53B, increased 6.4% Q/Q and 11.7% Y/Y. Capital allocation-based income rose to $47.1M from $40.2M in the previous quarter and $16.9M a year ago. Administrative, distribution, and servicing fees were $149.1M vs. $140.6M in Q4 and $128.9M in Q1 2023. Adjusted operating expenses declined to $1.07B from $1.15B in the prior quarter and increased from $1.02B a year ago. Conference call at 8:00 AM ET.  More on T. Rowe Price  T. Rowe Price Non-GAAP EPS of $2.38 beats by $0.36, revenue of $1.75B beats by $50M T. Rowe Price: Looming Interest Rate Cuts Will Turnaround Assets Under Management T. Rowe Price: Mixed Signals (Technical Analysis)","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430278132"}