T.Rowe Price 3Q earnings match expectations, revenue slightly below |
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Published
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Tue, 23 Oct 2007 13:09
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NEW YORK (Thomson Financial) - T. Rowe Price Group Inc. Tuesday reported third-quarter net income of $174.8 million, or 63 cents a share, in line with the mean estimate of analysts polled by Thomson Financial for profit of 63 cents a share.Revenue rose to $571 million from $450.6 million a year earlier, but fell short of Wall Street's $577.7 million forecast.The Baltimore-based investment management company said it remains 'optimistic' about prospects for stocks over the longer term.Shares of T. Rowe closed at $54.69 on Monday.Christie Rizkcr/tk1COPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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T.Rowe Price 3Q earnings 63 cents a share 