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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.