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T. Rowe Price (TROW) Q2 Earnings Beat on High Revenue
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Have you been eager to see how T. Rowe Price Group, Inc. (TROW - Free Report) performed in Q2 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 Beat
T. Rowe Price came out with adjusted earnings per share of $1.28, beating the Zacks Consensus Estimate of $1.27. Higher revenues were primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for T. Rowe Price depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.
However, T. Rowe Price has a disappointing earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in only one quarter out of the prior four quarters. Overall, the company missed the Zacks Consensus Estimate by an average of 4.15% in the trailing four quarters.
T. Rowe Price posted revenues of $1.17 billion, beating the Zacks Consensus Estimate of $1.16 billion. Revenues compared favorably with the year-ago number of $1.04 billion as well.
Key Stats to Note:
Assets under management increased to $903.6 billion
Net revenues depicted 12.1% year-over-year growth
nvestment advisory fees constituted 89% of net revenues
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) 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!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
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T. Rowe Price (TROW) Q2 Earnings Beat on High Revenue
Have you been eager to see how T. Rowe Price Group, Inc. (TROW - Free Report) performed in Q2 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 Beat
T. Rowe Price came out with adjusted earnings per share of $1.28, beating the Zacks Consensus Estimate of $1.27. Higher revenues were primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for T. Rowe Price depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.
However, T. Rowe Price has a disappointing earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in only one quarter out of the prior four quarters. Overall, the company missed the Zacks Consensus Estimate by an average of 4.15% in the trailing four quarters.
T. Rowe Price Group, Inc. Price and EPS Surprise
T. Rowe Price Group, Inc. Price and EPS Surprise | T. Rowe Price Group, Inc. Quote
Revenue Came In Higher Than Expected
T. Rowe Price posted revenues of $1.17 billion, beating the Zacks Consensus Estimate of $1.16 billion. Revenues compared favorably with the year-ago number of $1.04 billion as well.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) 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.
(You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this T. Rowe Price earnings report!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
See these stocks now>>