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Jun 30, 2023
T. Rowe Price Q2 2023 Earnings Report
Reported an increase in AUM and net revenues driven by improved market performance and cost savings initiatives.
Key Takeaways
T. Rowe Price Group reported Q2 2023 results with an increase in assets under management to $1.40 trillion. Net revenues increased by 6.4% compared to Q2 2022, primarily driven by an increase in accrued carried interest. Diluted earnings per share (EPS) was $2.06, and adjusted diluted EPS was $2.02.
Assets under management reached $1.40 trillion at the end of the quarter.
Net client outflows amounted to $20.0 billion.
Diluted earnings per common share (EPS) stood at $2.06; Adjusted diluted EPS was $2.02.
Returned $323 million to stockholders mostly from the recurring quarterly dividend
T. Rowe Price
T. Rowe Price
Forward Guidance
The firm estimates that its effective tax rate for the full year 2023 will be in the range of 26% to 30%, on a U.S. GAAP basis, and 26.5% to 29.5%, on a non-GAAP basis.