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AllianceBernstein Holding L.P. (NYSE:AB) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.88%.
AllianceBernstein Holding L.P. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.11% to $0.40 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Decreased 464.21% to $704.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: AllianceBernstein Holding L.P. reported adjusted EPS income of $0.40 per share. By that measure, the company beat the mean analyst estimate of $0.33. It beat the average revenue estimate of $672.67 million.
Quoting Management: “We finished 2012 strong, with greater stability in many parts of our business and real momentum in others,” said Peter S. Kraus, Chairman and Chief Executive Officer. “In the fourth quarter, our total net flows turned positive for the first time since before the Financial Crisis, thanks to a second consecutive $5 billion-plus net inflow quarter for Retail and our first net flow positive quarter in Institutional since early 2008. Not only did our fixed income services continue to outperform in the fourth quarter, many of our core growth and value equity services did as well.”
Key Stats (on next page)…
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