AllianceBernstein Holding L.P. Q1 Profit Decreases, but beats estimates

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

The company's bottom line came in at $194.2 million, or $0.59 per share. This compares with $260.7 million, or $0.87 per share, in last year's first quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $0.66 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.1% to $1.02 billion from $1.11 billion last year.

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

-Earnings (Q1): $194.2 Mln. vs. $260.7 Mln. last year. -EPS (Q1): $0.59 vs. $0.87 last year. -Analyst Estimates: $0.62 -Revenue (Q1): $1.02 Bln vs. $1.11 Bln last year.