T. Rowe Price Group (TROW) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter was essentially flat compared to the immediately preceding quarter, but declined sharply from the same quarter one year earlier. The year-over-year decrease reflects the challenging market environment and its impact on assets under management.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter was essentially flat compared to the immediately preceding quarter, but declined sharply from the same quarter one year earlier. The year-over-year decrease reflects the challenging market environment and its impact on assets under management.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.5B
Revenue reported for this quarter.
Quarter-over-quarter
+0.9%
Change from the immediately preceding quarter.
Year-over-year
-17.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$6.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $1.5B | -21.6% |
| Sep 30, 2022 | $1.6B | -18.7% |
| Dec 31, 2022 | $1.5B | -22.3% |
| Mar 31, 2023 | $1.5B | -17.5% |
Revenue performance
Revenue remained stable sequentially, indicating a potential stabilization in the business after prior declines. However, the significant year-over-year drop underscores the ongoing pressure from market conditions.
Quarterly comparison
Compared to the prior quarter, revenue showed a slight increase, breaking a streak of sequential declines. Relative to the same quarter last year, revenue was substantially lower, consistent with the broader downward trend observed over the past year.
What to watch
Monitor future changes in assets under management, as revenue is primarily driven by their total value and composition.