T. Rowe Price Group (TROW) surpassed Q2 earnings and revenue estimates on solid growth in assets under management (AUM) during the quarter. However, shares of the investment management company fell 1.4% in pre-market trading session after it cautioned that it expects expenses in 2021 to increase in the range of 12-15%, up from 10-14% previously expected. The change in guidance is a result of T. Rowe’s partnership with Fidelity National Information Services (FIS). Quarterly adjusted earnings came in at $3.31 per share, above the analyst’s expectations of $3.16 per share. Also, it increased 44.5% from $2.29 per share reported in the last year’s quarter. The company reported net revenues of $1.
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