AllianceBernstein Holding L.P. Q3 Profit Decreases, but beats estimates

(RTTNews) - AllianceBernstein Holding L.P. (AB) released earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $167.40 million, or $0.50 per share. This compares with $175.18 million, or $0.56 per share, in last year's third quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $74.07 million or $0.65 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.4% to $1.03 billion from $986.98 million last year.

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

-Earnings (Q3): $167.40 Mln. vs. $175.18 Mln. last year. -EPS (Q3): $0.50 vs. $0.56 last year. -Analyst Estimates: $0.62 -Revenue (Q3): $1.03 Bln vs. $986.98 Mln last year.