AllianceBernstein Holding L.P. Q1 Profit Increases, beats estimates

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

The company's earnings totaled $85.93 million, or $0.87 per share. This compares with $81.11 million, or $0.81 per share, in last year's first quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $89.45 million or $0.90 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $1.11 million from $1.01 million last year.

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

-Earnings (Q1): $85.93 Mln. vs. $81.11 Mln. last year.
-EPS (Q1): $0.87 vs. $0.81 last year.
-Analyst Estimate: $0.85
-Revenue (Q1): $1.11 Mln vs. $1.01 Mln last year.

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