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![PRICE T ROWE GROUP INC [TROW] reports annual net loss of $1.8 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FTROW.png&w=1200&q=75)
PRICE T ROWE GROUP INC [TROW] has reported a net loss of $1.8 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $6.5 billion
Based in BALTIMORE, Maryland, PRICE T ROWE GROUP INC operates in the FINANCE sector.
In the annual report for the fiscal year ended December 31, 2023, the financial performance of T. Rowe Price Group showed some interesting shifts compared to the previous years.
- Revenues:
- Net revenues for the current reporting period were $6,460.5 million, slightly lower compared to $6,488.4 million in the same period of 2022 and significantly down from $7,671.9 million in 2021.
- Operating Expenses:
- Total operating expenses for the year reached $4,474.3 million, up from $4,114.7 million in the previous year and $3,961.9 million in 2021.
- Net Income:
- Net income for the year was reported at $1,835.7 million, an increase from $1,449.6 million in the previous year. However, it was substantially lower compared to $3,098.5 million in 2021.
- Earnings per Share:
- Earnings per share on common stock of T. Rowe Price Group also reflected the performance, with the basic amount at $7.78 for the current year, up from $6.73 in the previous year but down from $13.25 in 2021. The diluted earnings per share were $7.76, an improvement from $6.70 in the prior year but lower than $13.12 in 2021.
Overall, while the company saw an increase in net income and earnings per share compared to the previous year, there was a decline in revenues and a significant drop from the 2021 figures. Operating expenses also rose, impacting the net income. It will be interesting to see how the company moves forward to address these trends and enhance its financial performance in the upcoming periods.
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