AllianceBernstein Holding L.P. Q4 Profit Decreases, but beats estimates

(RTTNews) - AllianceBernstein Holding L.P. (AB) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $187.14 million, or $0.59 per share. This compares with $372.23 million, or $1.27 per share, in last year's fourth quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $0.70 per share for the period.

Analysts on average had expected the company to earn $0.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 21.4% to $990.18 million from $1.26 billion last year.

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

-Earnings (Q4): $187.14 Mln. vs. $372.23 Mln. last year. -EPS (Q4): $0.59 vs. $1.27 last year. -Analyst Estimates: $0.57 -Revenue (Q4): $990.18 Mln vs. $1.26 Bln last year.