AllianceBernstein Holding L.P. Q4 Profit Increases, beats estimates

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

The company's earnings came in at $79.20 million, or $0.71 per share. This compares with $63.78 million, or $0.59 per share, in last year's fourth quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $85.43 million or $0.77 per share for the period.

Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.6% to $870.93 million from $802.11 million last year.

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

-Earnings (Q4): $79.20 Mln. vs. $63.78 Mln. last year. -EPS (Q4): $0.71 vs. $0.59 last year. -Analyst Estimate: $0.63 -Revenue (Q4): $870.93 Mln vs. $802.11 Mln last year.