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Compared to Estimates, T. Rowe (TROW) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, T. Rowe Price (TROW - Free Report) reported revenue of $1.61 billion, up 6.4% over the same period last year. EPS came in at $2.02, compared to $1.79 in the year-ago quarter.
The reported revenue represents a surprise of +2.00% over the Zacks Consensus Estimate of $1.58 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +18.13%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how T. Rowe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Assets Under Management - Total: $1399.4 billion compared to the $1330.2 billion average estimate based on three analysts.
Assets Under Management (EOP) - Alternatives: $44.7 billion versus $45 billion estimated by two analysts on average.
Assets Under Management (EOP) - Fixed income, including money market: $169.3 billion compared to the $172.6 billion average estimate based on two analysts.
Assets Under Management (EOP) - Multi-asset: $453.2 billion versus $438.2 billion estimated by two analysts on average.
Net cash inflows - Total: $-20 billion versus the two-analyst average estimate of $-13.9 billion.
Assets Under Management (EOP) - Equity: $732.2 billion versus $689.5 billion estimated by two analysts on average.
Revenues- Administrative, distribution and servicing fees: $140.70 million versus $135.63 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.3% change.
Revenues- Investment advisory fees: $1.43 billion versus the three-analyst average estimate of $1.43 billion. The reported number represents a year-over-year change of -4.4%.
Revenues- Capital allocation-based income: $38.70 million versus -$5 million estimated by two analysts on average.
Shares of T. Rowe have returned +5.3% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, T. Rowe (TROW) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, T. Rowe Price (TROW - Free Report) reported revenue of $1.61 billion, up 6.4% over the same period last year. EPS came in at $2.02, compared to $1.79 in the year-ago quarter.
The reported revenue represents a surprise of +2.00% over the Zacks Consensus Estimate of $1.58 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +18.13%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how T. Rowe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Assets Under Management - Total: $1399.4 billion compared to the $1330.2 billion average estimate based on three analysts.
- Assets Under Management (EOP) - Alternatives: $44.7 billion versus $45 billion estimated by two analysts on average.
- Assets Under Management (EOP) - Fixed income, including money market: $169.3 billion compared to the $172.6 billion average estimate based on two analysts.
- Assets Under Management (EOP) - Multi-asset: $453.2 billion versus $438.2 billion estimated by two analysts on average.
- Net cash inflows - Total: $-20 billion versus the two-analyst average estimate of $-13.9 billion.
- Assets Under Management (EOP) - Equity: $732.2 billion versus $689.5 billion estimated by two analysts on average.
- Revenues- Administrative, distribution and servicing fees: $140.70 million versus $135.63 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.3% change.
- Revenues- Investment advisory fees: $1.43 billion versus the three-analyst average estimate of $1.43 billion. The reported number represents a year-over-year change of -4.4%.
- Revenues- Capital allocation-based income: $38.70 million versus -$5 million estimated by two analysts on average.
View all Key Company Metrics for T. Rowe here>>>Shares of T. Rowe have returned +5.3% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.