April 25, 2018 / 11:37 AM / a month ago

BRIEF-T. Rowe Price Group Reports Q1 Non-GAAP Earnings Per Share Of $1.74

April 25 (Reuters) - T. Rowe Price Group Inc:

* T. ROWE PRICE GROUP REPORTS FIRST QUARTER 2018 RESULTS

* Q1 NON-GAAP EARNINGS PER SHARE $1.74

* Q1 EARNINGS PER SHARE VIEW $1.72 — THOMSON REUTERS I/B/E/S

* Q1 REVENUE $1.3 BILLION

* FIRM’S NET CASH INFLOWS WERE $11.3 BILLION IN Q1 OF 2018

* QTRLY AVERAGE ASSETS UNDER MANAGEMENT $1,025.5 BILLION VERSUS $845.4 BILLION

* CONTINUES TO EXPECT ITS 2018 NON-GAAP OPERATING EXPENSES TO GROW IN RANGE OF 8%-11%

* T. ROWE PRICE - INVESTMENT ADVISORY REVENUES EARNED IN QUARTER FROM FIRM’S U.S. MUTUAL FUNDS WERE $832.9 MILLION, UP 16.1% FROM COMPARABLE 2017 QUARTER

* EXPECTS CAPITAL EXPENDITURES FOR 2018 TO BE ABOUT $180 MILLION, OF WHICH ABOUT TWO-THIRDS IS PLANNED FOR TECHNOLOGY INITIATIVES

* FIRM HAS CHANGED PRESENTATION OF CERTAIN LINE ITEMS OF ITS INCOME STATEMENT

* ESTIMATES EFFECTIVE TAX RATE FOR FULL-YEAR 2018 WILL BE IN RANGE OF 24% TO 27% Source text for Eikon: Further company coverage:

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