Have you been eager to see how T. Rowe Price Group, Inc. TROW performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this MD-based popular asset management firm’s earnings release this morning:An Earnings BeatT. Rowe Price came out with earnings per share of $1.15, beating the Zacks Consensus Estimate of $1.02. Results included higher non-operating income which resulted from realized gains on investments and implementation of new accounting guidance associated with the consolidation of certain sponsored investment portfolios.How Was the Estimate Revision Trend?You should note that the earnings estimate revisions for T. Rowe Price depicted pessimism prior to the earnings release. The Zacks Consensus Estimate moved down around 1% over the last 7 days.However, T. Rowe Price has a decent earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in two out of the prior four quarters. Moreover, the company outpaced the Zacks Consensus Estimate by an average of 0.24% in the trailing four quarters.Revenue Came Lower Than Expected T. Rowe Price posted revenues of $994.1 million, missing the Zacks Consensus Estimate of $1.01 billion. Also, revenues compared unfavorably with the year-ago number of $1.03 billion.Key Stats to Note:Assets under management increased to $764.6 billionNet revenues depicted 3% year-over-year declineInvestment advisory fees constituted 88% of net revenues What Zacks Rank SaysThe estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for T. Rowe Price. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.Check back later for our full write up on this T. Rowe Price earnings report!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report T ROWE PRICE (TROW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research