T. Rowe Price Group Q4 Profit Increases, beats estimates

(RTTNews) - T. Rowe Price Group (TROW) announced a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $425.9 million, or $1.90 per share. This compares with $259.5 million, or $1.16 per share, in last year's fourth quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $394.7 million or $1.72 per share for the period.

Analysts on average had expected the company to earn $1.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.9% to $1.64 billion from $1.52 billion last year.

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

-Earnings (Q4): $425.9 Mln. vs. $259.5 Mln. last year. -EPS (Q4): $1.90 vs. $1.16 last year. -Analyst Estimate: $1.59 -Revenue (Q4): $1.64 Bln vs. $1.52 Bln last year.