AllianceBernstein Holding L.P. Q1 adjusted earnings Miss Estimates

(RTTNews) - AllianceBernstein Holding L.P. (AB) released earnings for first quarter that decreased from last year.

The company's bottom line totaled $46.47 million, or $0.49 per share. This compares with $58.31 million, or $0.60 per share, in last year's first quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $46.93 million or $0.49 per share for the period.

Analysts had expected the company to earn $0.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.9% to $657.88 million from $782.35 million last year.

AllianceBernstein Holding L.P. earnings at a glance:

-Earnings (Q1): $46.93 Mln. vs. $70.58 Mln. last year. -EPS (Q1): $0.49 vs. $0.73 last year. -Analysts Estimate: $0.54 -Revenue (Q1): $657.88 Mln vs. $782.35 Mln last year.