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BALTIMORE (AP) _ T. Rowe Price Group Inc. (TROW) on Tuesday reported first-quarter net income of $343.1 million.
The Baltimore-based company said it had net income of $1.41 per share. Earnings, adjusted for non-recurring costs, were $1.87 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.
The financial services firm posted revenue of $1.46 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.42 billion.
T. Rowe shares have fallen 13% since the beginning of the year, while the Standard & Poor’s 500 index has dropped 11%.
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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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