T. Rowe: 4Q Earnings Snapshot
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%.