T. Rowe Price surpasses earnings and revenue expectations

T. Rowe Price, an asset management firm, reported non-GAAP earnings per share (EPS) of $2.17, beating expectations by $0.40, and revenue of $1.67 billion, surpassing estimates by $20 million. The company experienced net client outflows of $17.4 billion and a decrease in assets under management (AUM) by $52.9 billion. Despite the challenging market conditions, some investors see T. Rowe Price as a long-term investment opportunity due to its strong business fundamentals and attractive valuation.