Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:AllianceBernstein's Earnings Rise, But AUM Falls Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 27, 2011

AllianceBernstein's Earnings Rise, But AUM Falls

News summary by MFWire's editors

For fundsters who grew up on 1980's sitcoms, AllianceBernstein's [see profile] Q3 earnings must sound like that theme song from The Facts of Life, which goes something like, "You take the good, you take the bad, you take them both and there you have the facts of life" [see the earnings call transcript].

First the Good. Earnings at the mutual fund firm topped expectations. It reported a profit of $91 million, or 26 cents a unit, up from $51.5 million, or 12 cents a unit, a year earlier. Adjusted for a series of items, company officials said it earned 30 cents per unit in the recent quarter. Analysts polled by Thomson Reuters expected earnings of 28 cents a share on revenue of $666 million.

Now the bad. The firm also reported total AUM as of Sept. 30 of $402 billion, down 13 percent from Q2 and down 16 percent from a year earlier and its revenue fell to $641.1 million, from $757.6 million last year.

"During the quarter we saw a decline in both gross sales and client redemptions," stated CEO Peter Kraus.

The Wall Street Journal, Bloomberg Businessweek and Financial News covered the firm's earnings release. 

Edited by: Hung Tran


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use