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Andrea Prochniak, Investors
212.756.4542
andrea.prochniak@alliancebernstein.com
                       

Jonathan Freedman, Media
212.823.2687
jonathan.freedman@alliancebernstein.com




ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES FOURTH QUARTER RESULTS
GAAP Diluted Net Income of $0.84 per Unit
Adjusted Diluted Net Income of $0.84 per Unit
Cash Distribution of $0.84 per Unit

New York, NY, February 13, 2018 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today reported financial and operating results for the quarter ended December 31, 2017.
“Our outstanding momentum with clients culminated in impressive operating results in 2017,” said Seth P. Bernstein, President and CEO of AllianceBernstein. “Not only did we attract $19.1 billion in active net inflows and increase our average fee rate by 2.7%; we also grew both adjusted net revenues and operating income by double-digits, and expanded our adjusted operating margin for the sixth consecutive year, to 27.7%.”
(US $ Thousands except per Unit amounts)
4Q 2017
 
4Q 2016
 
4Q 2017 vs 4Q 2016 % Change
 
2017
 
2016
 
2017 vs 2016 % Change
 
 
 
 
 
 
 
 
 
 
 
 
U.S. GAAP Financial Measures
 
 
 
 
 
 
 
 
 
 
 
Net revenues
$
919,141

 
$
786,256

 
16.9
%
 
$
3,298,521

 
$
3,028,779

 
8.9
%
Operating income
$
283,035

 
$
222,239

 
27.4
%
 
$
773,910

 
$
723,165

 
7.0
%
Operating margin
29.9
%
 
27.4
%
 
250 bps

 
21.7
%
 
23.2
%
 
(150 bps)

AB Holding Diluted EPU
$
0.84

 
$
0.77

 
9.1
%
 
$
2.19

 
$
2.23

 
(1.8
%)
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted Financial Measures (1)
 
 
 
 
 
 
 
 
 
 
 
Net revenues
$
770,139

 
$
661,969

 
16.3
%
 
$
2,704,016

 
$
2,469,314

 
9.5
%
Operating income
$
271,816

 
$
208,863

 
30.1
%
 
$
750,118

 
$
624,402

 
20.1
%
Operating margin
35.3
%
 
31.6
%
 
370 bps

 
27.7
%
 
25.3
%
 
240 bps

AB Holding Diluted EPU
$
0.84

 
$
0.67

 
25.4
%
 
$
2.30

 
$
1.89

 
21.7
%
AB Holding cash distribution per Unit
$
0.84

 
$
0.67

 
25.4
%
 
$
2.30

 
$
1.92

 
19.8
%
 
 
 
 
 
 
 
 
 
 
 
 
(US $ Billions)
 
 
 
 
 
 
 
 
 
 
 
Assets Under Management
 
 
 
 
 
 
 
 
 
 
 
Ending AUM
$
554.5

 
$
480.2

 
15.5
%
 
$
554.5

 
$
480.2

 
15.5
%
Average AUM
$
545.3

 
$
482.9

 
12.9
%
 
$
518.0

 
$
480.0

 
7.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The adjusted financial measures are all non-GAAP financial measures. See page 15 for reconciliations of GAAP Financial Results to Adjusted Financial Results and pages 16-17 for notes describing the adjustments.



www.alliancebernstein.com
 
1 of 17

The following information was filed by Alliancebernstein L.P. (ABLP) on Tuesday, February 13, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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