AllianceBernstein Earnings: Outflows Continued in the Third Quarter Despite Improved Equity Markets

AllianceBernstein ended September with $860 billion in assets under management, up 3.7% sequentially and 6.7% year over year. Despite fee rates declining year over year, adjusted third-quarter revenue increased 4.7%. Adjusted operating margins were also up 290 basis points year over year to 34.2%.