AllianceBernstein misses by $0.01, beats on revs (25.60)
- Reports Q3 (Sep) earnings of $0.51 per share, $0.01 worse than the Capital IQ Consensus of $0.52; revenues rose 8.6% year/year to $812.15 mln vs the $786.74 mln two analyst estimate.
- Total assets under management as of September 30, 2017 were $534.9 billion, up $18.3 billion, or 3.5%, from June 30, 2017, and up $44.7 billion, or 9.1%, from September 30, 2016.
- Total net inflows were $4.5 billion in the third quarter, compared to net inflows of $4.7 billion in the previous quarter, and net outflows of $15.3 billion in the prior year period, which included $6.7 billion in outflows related to the conclusion of our Rhode Island CollegeBound 529 fund relationship; and $7.6 billion in outflows related to the termination of an Institutional alternative investment portfolio.