T. Rowe Price Group Q1 Profit Decreases, But Beats Estimates

(RTTNews) - T. Rowe Price Group (TROW) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $478.1 million, or $2.15 per share. This compares with $558.0 million, or $2.49 per share, last year.

Excluding items, T. Rowe Price Group reported adjusted earnings of $509.3 million or $2.23 per share for the period.

Analysts on average had expected the company to earn $2.13 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 0.7% to $1.763 billion from $1.750 billion last year.

T. Rowe Price Group earnings at a glance (GAAP) :

-Earnings: $478.1 Mln. vs. $558.0 Mln. last year. -EPS: $2.15 vs. $2.49 last year. -Revenue: $1.763 Bln vs. $1.750 Bln last year.