AllianceBernstein: Q4 Earnings Snapshot

NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — AllianceBernstein Holding LP (AB) on Tuesday reported fourth-quarter profit of $79.2 million.

On a per-share basis, the Nashville, Tennessee-based company said it had net income of 71 cents. Earnings, adjusted for non-recurring costs, were 77 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The investment management company posted revenue of $1.09 billion in the period. Its adjusted revenue was $870.9 million.

For the year, the company reported profit of $264.2 million, or $2.34 per share. Revenue was reported as $3.37 billion.

AllianceBernstein shares have increased 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $32.95, a drop of 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AB at https://www.zacks.com/ap/AB