Stock Track | T. Rowe Price Stock Surges on Robust Q3 Earnings and Asset Growth

Stock Track

Nov 06, 2024

T. Rowe Price Group (TROW) witnessed a significant surge in its stock price, soaring 6.54% on November 6, 2024. This rally was primarily driven by the company's impressive third-quarter earnings report, which exceeded analyst expectations and showcased its strong financial performance.

The investment management firm reported an adjusted diluted earnings per share (EPS) of $2.57, marking an 18.4% increase compared to the same quarter last year and surpassing the analyst consensus estimate of $2.34. This substantial EPS growth was a major catalyst for the stock's upward movement.

Despite a slight revenue miss, with total revenue of $1.79 billion falling short of the $1.84 billion analyst forecast, the market appeared to focus on the robust earnings performance. T. Rowe Price's assets under management (AUM) also witnessed a significant increase, rising by $61.8 billion during the quarter to reach $1.63 trillion, further contributing to the stock's positive momentum.

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Rowe Price Stock Surges on Robust Q3 Earnings and Asset Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-11-06 22:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>T. Rowe Price Group (TROW) witnessed a significant surge in its stock price, soaring 6.54% on November 6, 2024. This rally was primarily driven by the company's impressive third-quarter earnings report, which exceeded analyst expectations and showcased its strong financial performance.</p>\n\n<p>The investment management firm reported an adjusted diluted earnings per share (EPS) of $2.57, marking an 18.4% increase compared to the same quarter last year and surpassing the analyst consensus estimate of $2.34. This substantial EPS growth was a major catalyst for the stock's upward movement.</p>\n\n<p>Despite a slight revenue miss, with total revenue of $1.79 billion falling short of the $1.84 billion analyst forecast, the market appeared to focus on the robust earnings performance. T. Rowe Price's assets under management (AUM) also witnessed a significant increase, rising by $61.8 billion during the quarter to reach $1.63 trillion, further contributing to the stock's positive momentum.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TROW","symbol_name":"普信集团","start_time":0,"source_url":"","article_id":"1114296844","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1114296844","pubTimestamp":1730903885,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"T. Rowe Price Group  witnessed a significant surge in its stock price, soaring 6.54% on November 6, 2024. 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