T. Rowe Price Q1 net income rose 36% to $573.8 million; diluted EPS $2.49
T. Rowe Price reported first-quarter 2024 results, with net revenues of $1.75 billion, up 13.8% from a year earlier, and net income attributable to the firm of $573.8 million, up 36.1%. Higher average assets under management and performance-based fees drove the gains, although the effective fee rate declined, and the firm also raised its quarterly dividend, which matters to shareholders because it signals continued payouts.
Key points
- Net revenues of $1.75 billion in Q1 2024, up 13.8% from $1.54 billion in Q1 2023.
- Diluted EPS of $2.49 versus $1.83 a year earlier; adjusted diluted EPS of $2.38 versus $1.69.
- Net client outflows of $8.0 billion in Q1 2024; assets under management reached $1.54 trillion at March 31, 2024.
- Quarterly dividend increased to $1.24 per share from $1.22, the 38th consecutive year of increases.
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 26, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.