Investing.com - T Rowe reported on Thursday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
T Rowe announced earnings per share of $1.79 on revenue of $1.51B. Analysts polled by Investing.com anticipated EPS of $2.17 on revenue of $1.74B.
T Rowe shares are up 12% from the beginning of the year, still down 46.37% from its 52 week high of $224.55 set on August 30, 2021. They are outperforming the S&P 500 which is down 15.58% from the start of the year.
T Rowe shares lost 3.94% in pre-market trade following the report.
T Rowe follows other major Financial sector earnings this month
T Rowe's report follows an earnings beat by Berkshire Hathaway A on July 19, who reported EPS of $4774.01 on revenue of $70.81B, compared to forecasts EPS of $4277.66 on revenue of $70.32B.
JPMorgan had missed expectations on July 14 with second quarter EPS of $2.76 on revenue of $30.72B, compared to forecast for EPS of $2.89 on revenue of $31.86B.
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