T. Rowe Price Groups profits jumped 49% in the second quarter from the year-ago period, the company reported on Tuesday.
Earnings in the quarter rose to $80.3 million, or 60 cents a share, compared to $53.8 million, or 42 cents a share at this time last year, according to the Associated Press. Analysts had been expecting 62 cents a share in the period. Assets under management, which were $161 billion on June 23, 2003, were $206.8 billion by June 30, 2004. The companys second-quarter inflows were led by the mid-cap value funds, which received 75% of those inflows.