Have you been eager to see how T. Rowe Price Group, Inc. (TROW – Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this Maryland-based popular asset management firm’s earnings release this morning:

An Earnings Beat

T. Rowe Price came out with adjusted earnings per share of $1.52, beating the Zacks Consensus Estimate of $1.45. Higher revenues along with growth in assets under management were primarily responsible for this earnings beat.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for T. Rowe Price depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate has been revised 3.3% downward over the last seven days.

However, T. Rowe Price has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in two of the prior four quarters. Overall, the company beat the Zacks Consensus Estimate by an average of 1.53% in the trailing four quarters.

T. Rowe Price Group, Inc. Price and EPS Surprise

T. Rowe Price Group, Inc. Price and EPS Surprise| T. Rowe Price Group, Inc. Quote

Revenues Came in Better Than Expected  

T. Rowe Price posted net revenues of $1.29 billion that surpassed the Zacks Consensus Estimate of $1.27 billion. Also, the reported figure compares favorably with the year-ago number of $1.09 billion.    

Key Stats to Note:

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for T. Rowe Price. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it depends on what sense the just-released report makes to the analysts.