BALTIMORE (AP) — BALTIMORE (AP) — T. Rowe Price Group Inc. (TROW) on Friday reported first-quarter profit of $573.8 million.
On a per-share basis, the Baltimore-based company said it had net income of $2.49. Earnings, adjusted for non-recurring gains, came to $2.38 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.
The financial services firm posted revenue of $1.75 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.71 billion.
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