UPDATE: AllianceBernstein Posts Q4 Profit
AllianceBernstein Holding LP (NYSE: AB) posted a profit in the fourth quarter.
AllianceBernstein posted a quarterly profit of $26.2 million, or $0.26 per unit, versus a year-ago loss of $199.5 million, or $1.97 per unit. Excluding one-time items, its earnings per unit came in at $0.40, versus analysts' estimates of $0.33 per share.
Its net revenue gained 13% to $704.6 million, versus analysts' estimates of $673 million.
AllianceBernstein shares closed at $21.44 yesterday.
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