AB - AllianceBernstein Q3 results reflect net inflows investment performance
AllianceBernstein (NYSE:AB) posts Q3 results that beat expectations as operating income of $279.65M increases from $217.15M in the year-ago quarter. Similarly, operating margin of 25.7% in Q3 rises from 24.1% in Q3 of last year. Q3 diluted EPS of $0.89 beats the consensus estimate of $0.86, compared with $0.69 in the year-ago quarter; beats revenues by $1.09B vs. $900.04M in Q3 2020. Assets under management of $742.2M climbs from $630.8M in Q3 of last year. Q3 net inflows of $7.2B rises from $6.2B in Q2 and $3.1B in the year-ago quarter. Q3 operating income of $281M increases from $216M in Q3 of last year. Q3 operating expenses of $813M climbs from $683M in Q3 2020. "Despite positive returns for the S&P 500 in the quarter, periods of volatility emerged that could persist, with markets adopting a more sober assessment of the outlook," said President and CEO Seth Bernstein. During power
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AllianceBernstein Q3 results reflect net inflows, investment performance