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

(RTTNews) - AllianceBernstein Holding L.P. (AB) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $77.22 million, or $0.67 per share. This compares with $67.44 million, or $0.59 per share, in last year's first quarter.

Excluding items, AllianceBernstein Holding L.P. reported adjusted earnings of $83.40 million or $0.73 per share for the period.

Analysts on average had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.8% to $1.10 billion from $1.02 billion last year.

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

-Earnings (Q1): $77.22 Mln. vs. $67.44 Mln. last year. -EPS (Q1): $0.67 vs. $0.59 last year. -Revenue (Q1): $1.10 Bln vs. $1.02 Bln last year.