T. Rowe: 3Q Earnings Snapshot

BALTIMORE (AP) _ T. Rowe Price Group Inc. (TROW) on Thursday reported third-quarter earnings of $643.2 million.

The Baltimore-based company said it had net income of $2.73 per share. Earnings, adjusted for non-recurring gains, came to $2.55 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.53 per share.

The financial services firm posted revenue of $1.6 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.61 billion.

T. Rowe shares have risen 13% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 1%.

_____

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

Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.

Comments

Sign up for breaking news alerts