AllianceBernstein Holding Q2 Profit Rises - Quick Facts

(RTTNews) - AllianceBernstein Holding L.P. (AB) reported that second-quarter equity in net income attributable to AllianceBernstein Unitholders rose to $43.23 million or $0.44 per unit from $40.62 million or $0.40 per unit in the prior-year quarter.

Adjusted net income per unit was $0.45, compared to last year's $0.41. On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

AllianceBernstein L.P said that net income attributable to AllianceBernstein Unitholders improved to $136.44 million from $120.71 million last year.

Net revenues for the quarter increased 2 percent to $754 million from $734 million last year, and adjusted net revenues for the quarter increased 6 percent to of $632 million from $598 million in the same quarter last year.

Three Wall Street analysts had a consensus revenue estimate of $740.74 million for the quarter.