AllianceBernstein reported Q1 adjusted earnings of $0.83 per unit, below analyst estimate of $0.84.
Revenue rose 11% YoY to $1.2 billion, beating consensus estimate of $896.56 million.
Net active outflows totaled $6.3 billion, driven by $10.9 billion equity outflows, while municipal strategies saw $3.3 billion inflows.
Adjusted operating income rose 3% to $291 million, but operating margin fell 30 bps to 33.4%; cash distribution $0.83 per unit.