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BALTIMORE (AP) _ T. Rowe Price Group Inc. (TROW) on Wednesday reported second-quarter profit of $603 million.
The Baltimore-based company said it had net income of $2.55 per share. Earnings, adjusted for non-recurring gains, were $2.29 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.04 per share.
The financial services firm posted revenue of $1.42 billion in the period, which met Street forecasts.
T. Rowe shares have risen nearly 10% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TROW at https://www.zacks.com/ap/TROW
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