AllianceBernstein Holding L.P. Q1 Profit Increases, beats estimates

(RTTNews) - AllianceBernstein Holding L.P. (AB) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $85.93 million, or $0.87 per share. This compares with $81.11 million, or $0.81 per share, in last year's first quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $89.45 million or $0.90 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $1.11 million from $1.01 million last year.

AllianceBernstein Holding L.P. earnings at a glance (GAAP) :

-Earnings (Q1): $85.93 Mln. vs. $81.11 Mln. last year. -EPS (Q1): $0.87 vs. $0.81 last year. -Analyst Estimate: $0.85 -Revenue (Q1): $1.11 Mln vs. $1.01 Mln last year.