WASHINGTON (dpa-AFX) - (Correction: The original article incorrectly said the company reported a decrease in earnings. A corrected version follows.)
T. Rowe Price Group (TROW) reported earnings for the first quarter that increased compared to the same period last year.
The company said its profit rose to $297.2 million, or $1.18 per share. This is up from $260.1 million, or $1.01 per share, in last year's first quarter.
Analysts had expected the company to earn $1.20 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter climbed 12.0% to $1.11 billion from $994.1 million a year ago.
T. Rowe Price Group earnings at a glance:
-Earnings (Q1): $297.2 Mln vs. $260.1 Mln last year. -Earnings Increase (Y-o-Y): 14.3% -EPS (Q1): $1.18 vs. $1.01 last year. -EPS Increase (Y-o-Y): 16.8% -Analysts Estimate: $1.20 -Revenue (Q1): $1.11 Bln vs. $994.1 Mln last year. -Revenue Increase (Y-o-Y): 12.0%
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