NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — AllianceBernstein Holding LP (AB) on Thursday reported fourth-quarter earnings of $81.8 million.
On a per-share basis, the Nashville, Tennessee-based company said it had net income of 90 cents. Earnings, adjusted for non-recurring costs, came to 96 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
The investment management company posted revenue of $1.22 billion in the period. Its adjusted revenue was $957.3 million.
For the year, the company reported profit of $299.8 million, or $2.97 per share. Revenue was reported as $3.52 billion.
AllianceBernstein shares have risen 10% since the beginning of the year. The stock has climbed slightly more than 8% 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
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