BALTIMORE (AP) — BALTIMORE (AP) — T. Rowe Price Group Inc. (TROW) on Wednesday reported fourth-quarter earnings of $439.9 million.
The Baltimore-based company said it had net income of $1.92 per share. Earnings, adjusted for non-recurring costs, came to $2.12 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.23 per share.
The financial services firm posted revenue of $1.82 billion in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $1.88 billion.
For the year, the company reported profit of $2.1 billion, or $9.15 per share. Revenue was reported as $7.09 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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