UPDATE: T. Rowe Reports 29% Surge In Q2 Profit

T. Rowe Price Group Inc TROW reported a 29% rise in its second-quarter profit. TROW posted its quarterly profit at $204.7 million, or $0.76 per share, up from $158.5 million, or $0.59 per share, in the year-ago period. Its net revenue climbed 24% to $713.7 million. Analysts were expecting earnings of $0.77 per share on revenue of $710 million. TROW shares closed at $59.97 yesterday.