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BALTIMORE (AP) _ T. Rowe Price Group Inc. (TROW) on Thursday reported fourth-quarter net income of $762.2 million.
The Baltimore-based company said it had net income of $3.33 per share. Earnings, adjusted for non-recurring gains, were $2.89 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.68 per share.
The financial services firm posted revenue of $1.73 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.71 billion.
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For the year, the company reported profit of $2.31 billion, or $9.98 per share. Revenue was reported as $6.21 billion.
T. Rowe shares have increased slightly more than 3% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat.
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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