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T. Rowe Price (TROW) Q2 Earnings & Revenues Beat Estimates
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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 $1.87, beating the Zacks Consensus Estimate of $1.80. 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 seven days.
Also, T. Rowe Price has an impressive earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.56% in the trailing four quarters.
T. Rowe Price posted revenues of $1.35 billion, beating the Zacks Consensus Estimate of $1.33 billion. Revenues compared favorably with the year-ago number of $1.19 billion as well.
Key Stats to Note:
Assets under management increased to $1.04 trillion
Net revenues depicted 13.4% year-over-year growth
Investment advisory fees constituted 90% of net revenues
Management continues to expect 2018 non-GAAP operating expenses to rise in the range of 8% to 11%
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!
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T. Rowe Price (TROW) Q2 Earnings & Revenues Beat Estimates
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 $1.87, beating the Zacks Consensus Estimate of $1.80. 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 seven days.
Also, T. Rowe Price has an impressive earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.56% 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 $1.35 billion, beating the Zacks Consensus Estimate of $1.33 billion. Revenues compared favorably with the year-ago number of $1.19 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 see the 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: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>