BALTIMORE (AP) _ T. Rowe Price Group Inc. (TROW) on Wednesday reported first-quarter earnings of $512.6 million.
The Baltimore-based company said it had net income of $2.09 per share. Earnings, adjusted for non-recurring gains, came to $1.87 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The financial services firm posted revenue of $1.33 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.28 billion.
T. Rowe shares have increased 19 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TROW at https://www.zacks.com/ap/TROW