T. Rowe Price Group Inc. on Wednesday reported record net revenues of $429 million for the first quarter of 2006.
Net revenue for the same quarter of 2005 was $357 million.
The company also reported net income of $116.7 million and diluted earnings per share of 84 cents per share, marking an increase of almost 22 percent compared with the 69 cents per share reported for the first quarter of 2005. In that quarter, the company reported net income of $94 million.
“Our strong first-quarter performance was achieved during a period in which global equity markets overall produced solid gains,” George A. Roche, the company?s chairman and president, said in a statement. “Although there are several headwinds that could create a more challenging investment environment moving forward, we are optimistic about the rest of 2006 and believe the financial markets can make moderate progress.”
