T. Rowe Price: Q2 Earnings Insights

 

Shares of T. Rowe Price Gr TROW were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share were up 44.54% year over year to $3.31, which beat the estimate of $3.16.

Revenue of $1,929,000,000 up by 36.33% year over year, which beat the estimate of $1,880,000,000.

Guidance

T. Rowe Price Gr hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Technicals

52-week high: $212.41

Company's 52-week low was at $121.58

Price action over last quarter: Up 13.20%

Company Profile

T. Rowe Price provides asset-management services for individual and institutional investors. It offers a broad range of no-load U.S. and international stock, hybrid, bond, and money market funds. At the end of May 2021, the firm had $1.593 trillion in managed assets, composed of equity (60%), balanced (28%), and fixed-income (12%) offerings. Approximately two thirds of the company's managed assets are held in retirement-based accounts, which provides T. Rowe Price with a somewhat stickier client base than most of its peers. The firm also manages private accounts, provides retirement planning advice, and offers discount brokerage and trust services. The company is primarily a U.S.-based asset manager, deriving just 9% of its AUM from overseas.

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Posted In: EarningsNewsBZI-Recaps
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