BALTIMORE (AP) — BALTIMORE (AP) — T. Rowe Price Group Inc. (TROW) on Wednesday reported fourth-quarter earnings of $445.3 million.
The Baltimore-based company said it had profit of $1.99 per share. Earnings, adjusted for one-time gains and costs, were $2.44 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.47 per share.
The financial services firm posted revenue of $1.93 billion in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $1.92 billion.
For the year, the company reported profit of $2.09 billion, or $9.24 per share. Revenue was reported as $7.31 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
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