T. Rowe Price Group Q1 Profit Increases, beats estimates

(RTTNews) - T. Rowe Price Group (TROW) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $573.8 million, or $2.49 per share. This compares with $421.5 million, or $1.83 per share, in last year's first quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $548.5 million or $2.38 per share for the period.

Analysts on average had expected the company to earn $2.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.6% to $1.75 billion from $1.54 billion last year.

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

-Earnings (Q1): $573.8 Mln. vs. $421.5 Mln. last year. -EPS (Q1): $2.49 vs. $1.83 last year. -Revenue (Q1): $1.75 Bln vs. $1.54 Bln last year.