A.G. Edwards Inc.'s fiscal third-quarter earnings rose 23%, the company announced.

The St. Louis brokerage company said its net income in the quarter ended Nov. 30 rose to $49 million, from $40 million a year earlier. Quarterly revenue grew 1.4%, to $638 million.

Commissions fell 8%, and trading revenue declined 23%. But asset management and service fees rose 2%, and client assets rose 10%, to a record $311 billion.

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