T. Rowe Price said Friday its second-quarter earnings rose as a post-war stock market rally and lower interest rates helped boost assets under management.

The Baltimore-based asset management firm posted a second-quarter net profit of $53.8 million, or 42 cents a share, up from the $51.9 million, or 40 cents a share, it earned in the same period last year. Wall Street analysts, on average, were expecting the company to earn 38 cents a share, according to Thomson Financial/First Call

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