T. Rowe Price net surges 33 percent, beats expectations

Wed Oct 24, 2012 7:47am EDT

(Reuters) - Fund manager T. Rowe Price Group (TROW.O) said on Wednesday its third-quarter profit rose 33 percent, including gains from the sale of fund investments.

For the three months ended Sept 30, the Baltimore asset manager reported net income of $247.3 million, or 94 cents a share, compared with net income of $185.5 million, or 71 cents per share, for the same period a year earlier.

Analysts surveyed by Thomson Reuters I/B/E/S on average had expected the company to earn 84 cents per share in the most recent quarter.

(Reporting by Ross Kerber; Editing by Bernadette Baum)

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