AllianceBernstein Earnings: Profit Streak Snapped by a Loss

AllianceBernstein Holding L.P. (NYSE:AB) reported its results for the third quarter. AllianceBernstein Holding provides research, investment management, and related services globally to a range of clients.

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AllianceBernstein Holding L.P. Earnings Cheat Sheet

Results: Reported a loss of $56 million (23 cents per diluted share) in the quarter. AllianceBernstein Holding L.P. had a net income of $78 million or 26 cents per share in the year-earlier quarter.

Revenue: Rose 10.3% to $708 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: AllianceBernstein Holding L.P. reported adjusted net income of 36 cents per share. By that measure, the company beat the mean estimate of 27 cents per share. It beat the average revenue estimate of $653.2 million.

Quoting Management: “After the difficult market conditions of the second quarter, global equity and fixed income trends turned more favorable during the third quarter, and our performance improved as a result,” said Peter S. Kraus, Chairman and Chief Executive Officer. “The already strong sales momentum in our Retail business accelerated, we continued to win diverse new Institutional fixed income and equity mandates, and our outflows moderated in Private Client.”

Key Stats:

For three consecutive quarters, the company has topped analyst estimates. It beat the mark by one cent in the second quarter and by 5 cents in the first quarter.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 28 cents per share to 26 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. The average estimate for the fiscal year has seen a bump from $1.02 per share sixty days ago to $1.06.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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