T. Rowe: Fourth Quarter Earnings Overview

T. Rowe Price Group Announces Fourth-Quarter Financial Results

T. Rowe Price Group Inc., headquartered in Baltimore, revealed its earnings for the fourth quarter on Wednesday, reporting a net income of $445.3 million.

The company’s earnings translated to $1.99 per share. After adjusting for nonrecurring items, the adjusted earnings stood at $2.44 per share.

These adjusted earnings were slightly below what analysts had anticipated. According to a survey by Zacks Investment Research involving seven analysts, the consensus estimate was $2.47 per share.

During the same period, the financial services provider generated $1.93 billion in revenue, surpassing analyst expectations. Four analysts polled by Zacks had projected revenue of $1.92 billion.

For the full year, T. Rowe Price Group reported a total profit of $2.09 billion, or $9.24 per share, with annual revenue reaching $7.31 billion.