T. Rowe Price Group Inc. reported a profit of $373.9 million in the second quarter, up 84 percent from the April-to-June period last year.
Earnings at the Baltimore-based investment management company rose to $1.50 per share, up 71 cents compared to the same quarter in 2016. Adjusted to remove what T. Rowe considers non-core operations, per-share earnings were $1.28, beating analyst estimates and boosting the firm’s stock price Tuesday.
“I do think this was a strong quarter,” said President and CEO William J. Stromberg, citing strong sales, earnings growth and investment performance. “Those are all really good milestones for us.”
Four analysts polled by Zacks...