AP NEWS

T. Rowe: 4Q Earnings Snapshot

January 29, 2020 GMT

BALTIMORE (AP) _ T. Rowe Price Group Inc. (TROW) on Wednesday reported fourth-quarter earnings of $545.3 million.

On a per-share basis, the Baltimore-based company said it had net income of $2.24. Earnings, adjusted for non-recurring gains, came to $2.03 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.

The financial services firm posted revenue of $1.47 billion in the period, meeting Street forecasts.

For the year, the company reported profit of $2.13 billion, or $8.70 per share. Revenue was reported as $5.62 billion.

T. Rowe shares have increased 12% since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 2%.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TROW at https://www.zacks.com/ap/TROW