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T. Rowe Price posted solid results with $1.76 billion in revenue and $490.5 million in net income. The firm experienced $8.6 billion in net client outflows but maintained strong EPS and ended the quarter with $1.57 trillion in AUM.
Revenue reached $1.76 billion, up slightly from the prior year.
Net income was $490.5 million, with EPS at $2.15 and adjusted EPS at $2.23.
Assets under management fell to $1.566 trillion due to $8.6 billion in net outflows and market depreciation.
The company returned $506 million to shareholders via dividends and buybacks.
T. Rowe Price expects continued progress amid uncertainty, with a focus on retirement leadership and investment capabilities.