(RTTNews) - T. Rowe Price Group (TROW) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $259.5 million, or $1.16 per share. This compares with $721.7 million, or $3.18 per share, in last year's fourth quarter.
Excluding items, T. Rowe Price Group reported adjusted earnings of $399.6 million or $1.74 per share for the period.
Analysts on average had expected the company to earn $1.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 22.4% to $1.52 billion from $1.96 billion last year.
T. Rowe Price Group earnings at a glance (GAAP) :
-Earnings (Q4): $259.5 Mln. vs. $721.7 Mln. last year. -EPS (Q4): $1.16 vs. $3.18 last year. -Analyst Estimates: $1.70 -Revenue (Q4): $1.52 Bln vs. $1.96 Bln last year.
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