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T. Rowe Price net income up nearly 26 percent for quarter
T. Rowe Price net income up nearly 26 percent for quarter

Baltimore money manager T. Rowe Price said Thursday that net income rose nearly 26 percent in the first three months of the year, compared with a year earlier, and customers added money to portfolios rather than taking cash out — reversing an unusual trend in 2013. The company reported $304.3 million in net income during the first quarter, up from $241.9 million during the year-ago quarter. Total revenue rose 17 percent, to $954.6 million. That performance was fueled by rising investment advisory revenue, thanks to market gains and more money flowing in from clients. Customers invested $8.8 billion in net cash into Price funds and other portfolios during the first quarter, compared...

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