AllianceBernstein: Q3 Earnings Snapshot

NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — AllianceBernstein Holding LP (AB) on Tuesday reported third-quarter net income of $73.1 million.

The Nashville, Tennessee-based company said it had profit of 79 cents per share. Earnings, adjusted for non-recurring costs, were 88 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The investment management company posted revenue of $1.23 billion in the period. Its adjusted revenue was $904.3 million.

AllianceBernstein shares have declined slightly more than 8% since the beginning of the year. The stock has fallen 11% 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