T. Rowe Price Group Q2 Profit Increases, But Misses Estimates

(RTTNews) - T. Rowe Price Group (TROW) revealed a profit for its second quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line totaled $470.5 million, or $2.11 per share. This compares with $464.8 million, or $2.06 per share, in last year's second quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $519.7 million or $2.26 per share for the period.

Analysts on average had expected the company to earn $2.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.6% to $1.733 billion from $1.610 billion last year.

T. Rowe Price Group earnings at a glance (GAAP) :

-Earnings (Q2): $470.5 Mln. vs. $464.8 Mln. last year. -EPS (Q2): $2.11 vs. $2.06 last year. -Revenue (Q2): $1.733 Bln vs. $1.610 Bln last year.