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BALTIMORE (AP) — BALTIMORE (AP) — T. Rowe Price Group Inc. (TROW) on Friday reported first-quarter net income of $490.5 million.
The Baltimore-based company said it had profit of $2.15 per share. Earnings, adjusted for one-time gains and costs, came to $2.23 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.09 per share.
The financial services firm posted revenue of $1.76 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $1.77 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TROW at https://www.zacks.com/ap/TROW