On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1440 AM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
55° Feels Like: 55°
Wind: ESE 6 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Mostly Clear 54°

Tomorrow

Mostly Cloudy 73°

Fri Night

Rain/Thunder 59°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

AllianceBernstein says outflows reached $10.3 billion in quarter

(Reuters) - U.S. money manager AllianceBernstein Holding LP said Wednesday it suffered $10.3 billion in net outflows during the fourth-quarter after losing $6.8 billion in fixed-income assets related to an asset sale.

The company said the loss would not hurt its revenue in a material way because the assets that were lost generated low fees.

AllianceBernstein's fourth-quarter net revenue rose 9 percent to $766 million from year-ago levels. Adjusted net income per unit was 60 cents, compared with 40 cents per unit in the year-ago period.

Analysts on average had been looking for adjusted net income of 43 cents a unit, according to Thomson Reuters I/B/E/S.

(Reporting By Tim McLaughlin; Editing by Sophie Hares)

Comments