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James A.C. Kennedy
Earnings surge 24 percent at T. Rowe Price in fourth quarter
Earnings surge 24 percent at T. Rowe Price in fourth quarter

T. Rowe Price Group's stock soared Tuesday after the firm reported fourth-quarter earnings rose 24 percent compared with the year before, beating analyst expectations. The Baltimore money manager posted a profit of $287.7 million and earnings per share of $1.06, three cents above analyst expectations, for the October-to-December period. A year earlier, it earned $232 million, or 88 cents a share. Revenue rose to $929.8 million for the three months ended Dec. 31, up from $787.3 million the same period a year earlier. T. Rowe Price also reported net inflows of $100 million in the fourth quarter, after two periods of outflows when clients appeared to be pulling their funds. Wall Street...

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