AllianceBernstein Holding L.P. Q2 Profit Decreases, misses estimates

(RTTNews) - AllianceBernstein Holding L.P. (AB) released a profit for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $60.56 million, or $0.53 per share. This compares with $68.14 million, or $0.69 per share, in last year's second quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $68.68 million or $0.61 per share for the period.

Analysts on average had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.1% to $1.01 billion from $0.97 billion last year.

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

-Earnings (Q2): $60.56 Mln. vs. $68.14 Mln. last year. -EPS (Q2): $0.53 vs. $0.69 last year. -Analyst Estimates: $0.65 -Revenue (Q2): $1.01 Bln vs. $0.97 Bln last year.