T. Rowe Price Group Q4 adjusted earnings Beat Estimates

(RTTNews) - T. Rowe Price Group (TROW) reported earnings for its fourth quarter that advanced from the same period last year.

The company's profit came in at $783.4 million, or $3.33 per share. This compares with $545.3 million, or $2.24 per share, in last year's fourth quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $680.2 million or $2.89 per share for the period.

Analysts had expected the company to earn $2.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.7% to $1.73 billion from $1.47 billion last year.

T. Rowe Price Group earnings at a glance:

-Earnings (Q4): $680.2 Mln. vs. $495.2 Mln. last year. -EPS (Q4): $2.89 vs. $2.03 last year. -Analysts Estimate: $2.64 -Revenue (Q4): $1.73 Bln vs. $1.47 Bln last year.