T. Rowe Price (TROW) Q2 Earnings Beat Estimates, AUM Rises Y/Y

Net income attributable to T. Rowe Price (on a GAAP basis) was $483.4 million, which increased 1.5% year over year. Investment advisory fees increased 10.8% year over year to $1.59 billion. Our estimate for investment advisory fees was $1.54 billion. As of Jun 30, 2024, T. Rowe Price employed 7,929 associates, up 0.3% year over year. In the second quarter, net market appreciation and income of $30.6 billion positively impacted TROW's AUM. However, net cash outflows were $3.7 billion. TROW's solid AUM balanc ...