T. Rowe Price has reported its second quarter of 2012 results, highlighting strong earnings and mutual-fund performances. Baltimore Business Journal, Daily Markets and Reuters have posted the release.

T. Rowe Price reported net revenue of $736.8 million, net income of $206.8 million, and diluted earnings per common share of 79 cents for the second quarter of 2012, which are across-the-board increases compared to the same period in 2011.

For the first half of 2012, net revenue was nearly $1.5 billion, net income was $404.3 million, and diluted earnings per common share was $1.54. This was an increase of 3 percent from the $1.49 per share in the first half of 2011.

T. Rowes Price mutual funds distributed in the U.S. total $321.7 billion in AUMs. And 73 percent of T. Rowe funds have outperformed their comparable Lipper averages for the past three years, the release notes.

James Kennedy, CEO and president of T. Rowe Price, stated in the release, "While client cash flows across our diversified distribution channels may vary, we are pleased that in today's volatile environment our strong long-term performance and investment solutions, such as our target-date retirement portfolios, continue to provide value to clients and generate healthy net inflows overall."  

Edited by: JY


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