-=AllianceBernstein (AB) reported earnings on Thur 24 Oct 19 (b/o)

AllianceBernstein reports EPS in-line, revs in-line

Reports Q3 (Sep) earnings of $0.63 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $0.63; revenues rose 3.3% year/year to $877.87 mln vs the $880.27 mln single analyst estimate.

Q3 US net revenues of $878 million increased 3% from $850 million in the third quarter of 2018. Higher investment advisory base fees, distribution revenues, investment gains and net dividend and interest income were partially offset by lower performance-based fees and Bernstein Research revenues.

Total assets under management as of September 30, 2019 were $592.4 billion, up $11.6 billion, or 2.0%, from June 30, 2019, and up $42.0 billion, or 7.6%, from September 30, 2018.