T. Rowe Price Group Q2 adjusted earnings Beat Estimates

(RTTNews) - T. Rowe Price Group (TROW) reported a profit for its second quarter that increased from last year.

The company's earnings totaled $793.5 million, or $3.46 per share. This compares with $586.2 million, or $2.55 per share, in last year's second quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $779.0 million or $3.31 per share for the period.

Analysts had expected the company to earn $3.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 35.9% to $1.93 billion from $1.42 billion last year.

T. Rowe Price Group earnings at a glance:

-Earnings (Q2): $779.0 Mln. vs. $539.6 Mln. last year. -EPS (Q2): $3.31 vs. $2.29 last year. -Analysts Estimate: $3.16 -Revenue (Q2): $1.93 Bln vs. $1.42 Bln last year.