T. Rowe Price Group Inc.'s (TROW) fourth-quarter net income soared to $152.5 million or $0.57 per share from $24.3 million or $0.09 per share last year. On average, 17 analysts polled by Thomson Reuters expected earnings per share of $0.55 for the quarter. Analysts' estimate typically excludes one-time items.
Net revenues for the latest quarter rose to $542.6 million from $415.9 million in the comparable period. Thirteen analysts estimated revenues of $546.57 million for the quarter.
Also, the firm estimates its advertising and promotion expenditures for 2010 could increase up to 30% from 2009 and first quarter 2010 spending is expected to be about $26 million. The firm presently estimates the effective tax rate for 2010 to be about 38.0%.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.