T. Rowe Price Group Q3 Profit Increases, Beats Estimates

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

The company's bottom line came in at $603.0 million, or $2.64 per share. This compares with $453.2 million, or $1.97 per share, in last year's third quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $586.5 million or $2.57 per share for the period.

Analysts on average had expected the company to earn $2.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.9% to $1.785 billion from $1.670 billion last year.

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

-Earnings (Q3): $603.0 Mln. vs. $453.2 Mln. last year. -EPS (Q3): $2.64 vs. $1.97 last year. -Revenue (Q3): $1.785 Bln vs. $1.670 Bln last year.