AllianceBernstein rallies after earnings beat

• Adjusted operating income of $148.7M and EPS of $0.45 compares to $147M and $0.43 one year ago.
• Ending AUM of $490.2B up 5.9% Y/Y. Average AUM of $492B up 3.3%.
• CEO Peter Kraus notes $3B in retail net inflows during quarter vs. $2B of outflows in Q3 a year ago. Private Wealth inflows of $1.2B vs. slight outflows a year ago (overall net outflows of $9.9B during quarter thanks to the end of two sizable deals). Equity investment performance rebounded in Q3 after a tough H1, he says.
• 2M shares bought back during quarter.
• Previously: AllianceBernstein beats by $0.02, beats on revenue (Oct. 26)
• AB +4.8%