T. Rowe Price net rises 23 percent

Tue Jan 29, 2013 12:42pm GMT

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Jan 29 (Reuters) - T. Rowe Price Group Inc said Tuesday that its fourth-quarter net income rose 23 percent as investment advisory revenue increased.

The Baltimore asset manager on Tuesday reported net income of $232 million, or 88 cents per share, compared with net income of $188.4 million, or 73 cents per share, in the same period a year earlier.

Analysts surveyed by Thomson Reuters I/B/E/S on average had expected the company to earn 89 cents per share in the most recent quarter.