BALTIMORE (AP) — BALTIMORE (AP) — T. Rowe Price Group Inc. (TROW) on Thursday reported first-quarter earnings of $498.2 million.
The Baltimore-based company said it had profit of $2.23 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $2.52 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.37 per share.
The financial services firm posted revenue of $1.86 billion in the period, matching Street forecasts.
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