T. Rowe Price Group (TROW) Revenue — Quarter Ended Jun 30, 2023
Revenue for the quarter increased compared with the prior quarter and the same quarter a year earlier. The improvement reflects higher asset values and favorable market conditions during the period.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue for the quarter increased compared with the prior quarter and the same quarter a year earlier. The improvement reflects higher asset values and favorable market conditions during the period.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.6B
Revenue reported for this quarter.
Quarter-over-quarter
+4.7%
Change from the immediately preceding quarter.
Year-over-year
+6.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$6.3B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $1.6B | -18.7% |
| Dec 31, 2022 | $1.5B | -22.3% |
| Mar 31, 2023 | $1.5B | -17.5% |
| Jun 30, 2023 | $1.6B | +6.4% |
Revenue performance
Reported revenue rose from the immediately preceding quarter, reversing the declines seen in the prior three quarters. The year-over-year comparison also showed an increase.
Quarterly comparison
Compared with the prior quarter, revenue moved higher, and versus the same quarter one year ago, revenue was also up. The sequential and annual comparisons both point to a positive direction.
What to watch
Future revenue will continue to depend on changes in total assets under management, which are influenced by market fluctuations and investor flows.