T. Rowe Price [profile] just reported a four percent year-over-year increase in first quarter earnings, and yet that still fell short of expectations [Q1 earnings report].

Bloomberg and Reuters both reported on the Baltimore-based mutual fund firm's results.

T. Rowe earned $0.75 per share, up from $0.72 in Q1 2011, but below the $0.77 expected by analysts polled by the two wire services.

The money manager received $12.4 billion of new money into its popular offerings and institutional accounts. 

Edited by: HFD


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