AllianceBernstein Posts Q3 Net Income of $73.1 Million, Adjusted EPS of 88 Cents Beats Estimates

AllianceBernstein Holding LP (AB) reported third-quarter net income of $73.1 million on Tuesday, with adjusted earnings of 88 cents per share topping the 86-cent average estimate of three analysts surveyed by Zacks Investment Research. The Nashville, Tennessee-based investment manager posted earnings of 79 cents per share on a reported basis. Revenue for the period was $1.23 billion, with adjusted revenue of $904.3 million. The stock has fallen slightly more than 8% since the start of the year and is down 11% over the past 12 months.