AllianceBernstein Holding L.P. Announces 12% Fall In Q1 Profit

(RTTNews) - AllianceBernstein Holding L.P. (AB) reported a profit for first quarter that dropped from last year.

The company said its profit declined to $124.86 million, or $0.40 per share. This was lower than $141.16 million, or $0.45 per share, in last year's first quarter.

Analysts had expected the company to earn $0.42 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.9% to $590.06 million. This was down from $633.99 million last year.

AllianceBernstein Holding L.P. earnings at a glance:

-Earnings (Q1): $124.86 Mln. vs. $141.16 Mln. last year. -Earnings Decline (Y-o-Y): -11.5% -EPS (Q1): $0.40 vs. $0.45 last year. -EPS Decline (Y-o-Y): -11.1% -Analysts Estimate: $0.42 -Revenue (Q1): $590.06 Mln vs. $633.99 Mln last year. -Revenue Change (Y-o-Y): -6.9%