AllianceBernstein [see profile] had a rough quarter, but not as rough as analysts expected. Yesterday the New York-based mutual fund firm reported diluted net income (excluding a real estate charge) of $0.44 per share, down from $0.48 in Q3 2009; Dow Jones reports that analysts expected AllianceBernstein to earn only $0.41 per share.

The firm suffered $18.9 billion in net ouflows last quarter, the vast majority of which came from institutional clients. Yet its assets under management still grew six percent last quarter to $484 billion. 

Edited by: Neil Anderson, Managing Editor


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