AllianceBernstein posts 4Q profit

Associated Press |

NEW YORK (AP) _ AllianceBernstein Holding LP (AB) on Tuesday reported fourth-quarter earnings of $78.8 million.

The New York-based company said it had profit of 84 cents per share.

The investment management company posted revenue of $919.1 million in the period. Its adjusted revenue was $770.1 million.

For the year, the company reported profit of $208.1 million, or $2.19 per share. Revenue was reported as $2.7 billion.

AllianceBernstein shares have risen slightly more than 1 percent since the beginning of the year. The stock has risen 8.5 percent in the last 12 months.

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