T. Rowe Price beats by $0.12, reports revs in-line :
- Reports Q1 (Mar) earnings of $1.15 per share, $0.12 better than the Capital IQ Consensus of $1.03; revenues fell 3.2% year/year to $994.1 mln vs the $1 bln Capital IQ Consensus.
- Assets under management increased $1.5 billion in the first quarter of 2016 to $764.6 billion at March 31, 2016. Net cash flows in the 2016 quarter were $5.1 billion and market depreciation, net of income was $3.6 billion.
- "Equity and credit markets have recovered nicely after a difficult first six weeks (of the new year). We continue to believe that global growth and financial market returns will be modest over the next year".
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