T. Rowe Price Group Q3 Profit Increases, beats estimates

(RTTNews) - T. Rowe Price Group (TROW) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $442.6 million, or $1.97 per share. This compares with $375.2 million, or $1.66 per share, in last year's third quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $499.5 million or $2.17 per share for the period.

Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $1.67 billion from $1.59 billion last year.

T. Rowe Price Group earnings at a glance (GAAP) :

-Earnings (Q3): $442.6 Mln. vs. $375.2 Mln. last year. -EPS (Q3): $1.97 vs. $1.66 last year. -Analyst Estimate: $1.78 -Revenue (Q3): $1.67 Bln vs. $1.59 Bln last year.