T. Rowe Price saw its third quarter earnings fall nearly 13 percent from a year ago, as tumbling markets cut into its assets and deposits slowed.
The Baltimore-based investment firm’s net income fell to $152.8 million or 56 cents a share from $174.8 million or 63 cents a year ago. Falling stock prices cut the value of assets managed by T. Rowe for investors by 11 percent since June 30, to $345 billion.
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