T. Rowe Price Group Q2 Income Declines 42%

(RTTNews) - T. Rowe Price Group (TROW) announced earnings for second quarter that dropped from last year.

The company said its bottom line totaled $191.5 million, or $0.76 per share. This was down from $329.1 million, or $1.24 per share, in last year's second quarter.

Analysts had expected the company to earn $0.73 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.8% to $1.04 billion. This was down from $1.07 billion last year.

T. Rowe Price Group earnings at a glance:

-Earnings (Q2): $191.5 Mln. vs. $329.1 Mln. last year. -Earnings Decline (Y-o-Y): -41.8% -EPS (Q2): $0.76 vs. $1.24 last year. -EPS Decline (Y-o-Y): -38.7% -Analysts Estimate: $0.73 -Revenue (Q2): $1.04 Bln vs. $1.07 Bln last year. -Revenue Change (Y-o-Y): -2.8%