AllianceBernstein's third-quarter revenue rises 10 percent
Oct 24 (Reuters) - U.S. asset manager AllianceBernstein Holding LP said on Wednesday that third-quarter net revenue rose 10 percent as outflows from its investment products slowed considerably from year-ago levels.
AllianceBernstein's net revenue was $708 million, compared with $642 million in the year-ago period. The company's operating loss in the quarter was $56 million, mainly because of a previously announced real estate charge, compared with an operating profit of $78 million in the year-ago quarter.
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Uruguay becomes first country to legalize marijuana trade
- Pope Francis named Time's Person of the Year
- Thousands of South Africans line up to see Mandela lie in state |
- China bitcoin arbitrage ends as traders work around capital controls