T. Rowe: 2Q Earnings Snapshot
BALTIMORE (AP) _ T. Rowe Price Group Inc. (TROW) on Wednesday reported second-quarter net income of $527.5 million.
On a per-share basis, the Baltimore-based company said it had net income of $2.15. Earnings, adjusted for non-recurring gains, were $2.03 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The financial services firm posted revenue of $1.4 billion in the period, which met Street forecasts.
T. Rowe shares have risen 20% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%.