AllianceBernstein Holding L.P. Reports 20% Decline In Q2 Bottom Line

(RTTNews) - AllianceBernstein Holding L.P. (AB) reported earnings for second quarter that dropped from last year.

The company said its earnings declined to $39.13 million, or $0.40 per share. This was down from $48.65 million, or $0.48 per share, in last year's second quarter.

Analysts had expected the company to earn $0.44 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 8.1% to $603.90 million. This was down from $657.36 million last year.

AllianceBernstein Holding L.P. earnings at a glance:

-Earnings (Q2): $39.13 Mln. vs. $48.65 Mln. last year. -Earnings Decline (Y-o-Y): -19.6% -EPS (Q2): $0.40 vs. $0.48 last year. -EPS Decline (Y-o-Y): -16.7% -Analysts Estimate: $0.44 -Revenue (Q2): $603.90 Mln vs. $657.36 Mln last year. -Revenue Change (Y-o-Y): -8.1%