T. Rowe Price Group Q4 Profit Decreases, but beats estimates

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

The company's bottom line totaled $721.7 million, or $3.18 per share. This compares with $762.2 million, or $3.33 per share, in last year's fourth quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $736.7 million or $3.17 per share for the period.

Analysts on average had expected the company to earn $3.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.3% to $1.96 billion from $1.73 billion last year.

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

-Earnings (Q4): $721.7 Mln. vs. $762.2 Mln. last year. -EPS (Q4): $3.18 vs. $3.33 last year. -Analyst Estimates: $3.14 -Revenue (Q4): $1.96 Bln vs. $1.73 Bln last year.