T. Rowe Price Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 29, 2022 at 12:47 am IST
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T. Rowe Price Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported negative sales was USD 126.3 million. Revenue was USD 1,513 million compared to USD 1,929.3 million a year ago. Net income was USD 339.6 million compared to USD 815.7 million a year ago. Basic earnings per share from continuing operations was USD 1.47 compared to USD 3.5 a year ago. Diluted earnings per share from continuing operations was USD 1.46 compared to USD 3.46 a year ago.
For the six months, negative sales was USD 81.9 million. Revenue was USD 3,376 million compared to USD 3,756.1 million a year ago. Net income was USD 907.5 million compared to USD 1,565.1 million a year ago. Basic earnings per share from continuing operations was USD 3.9 compared to USD 6.7 a year ago. Diluted earnings per share from continuing operations was USD 3.88 compared to USD 6.63 a year ago.
T. Rowe Price Group, Inc. is an investment management company that provides investment advisory services to individual and institutional investors, retirement plans, and financial intermediaries. The group manages a broad range of American and international stock, blended asset, bond, and money market mutual funds and other investment portfolios.
T. Rowe Price Group also provides investment advisory clients with related administrative services, including mutual fund transfer agent, accounting and shareholder services, participant recordkeeping and transfer agent services for defined contribution retirement plans, discount brokerage, and trust services.
At the end of 2023, the group had USD 1,444.5 billion in assets under management.