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 $54.41 million or $0.48 per unit from $48.47 million or $0.44 per unit in the prior-year quarter.

Adjusted net income per unit was $0.48, compared to last year's $0.45. On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

AllianceBernstein L.P said that net income attributable to AllianceBernstein Unitholders improved 9.3 percent to $149.09 million from $136.44 million last year.

Net revenues for the quarter increased 5.2 percent to $792.74 million from $753.65 million last year, and adjusted net revenues for the quarter grew 4.5 percent to of $657.36 million from $629.13 million in the same quarter last year.

Four Wall Street analysts had a consensus revenue estimate of $781.81 million for the quarter.