AllianceBernstein (NYSE: AB) reported Q3 EPS of $0.68, $0.06 better than the analyst estimate of $0.62. Revenue for the quarter came in at $850.18 million versus the consensus estimate of $707.56 million.

"Results from this quarter reflect relentless execution of our long-term strategy." said Seth P. Bernstein, President and CEO of AllianceBernstein. "Our portfolio fee rate increased by nearly 2% year-on-year, thanks largely to continued growth in alternatives and active equities. Active net inflows of $2.5 billion in the quarter were led by equity net inflows of $2.9 billion and essentially flat fixed income net flows represented a $5.5 billion sequential improvement. Adjusted operating income and adjusted earnings per unit were up 31% and 35%, respectively, year-on-year."

Bernstein continued: "Through the differentiation of our offering and our ability to scale and commercialize it globally, we're growing in the most promising areas of our business. In Institutional, year-to-date active equity gross sales of $6 billion represent our best year since 2008 and net flows have been positive for three straight quarters, and five out of the past six. And through diverse new additions, we grew our pipeline by $800 million, to $7.9 billion. In Retail, net inflows of $1.2 billion were positive for the fifth quarter out of the past seven. Again, strength in active equities has been the driver, with $6.2 billion in net flows year-to-date. In Private Wealth, asset retention is our best since the Financial Crisis, and our year-to-date AUM and annualized organic growth rates are highest among our client relationships of $20 million or more. On the sell side, our tradition of research excellence continues: In a leading independent annual survey of US research analysts, Bernstein advanced from #6 to #5 on a weighted basis, with 17 top-ranked analysts in total. Finally, we improved our financial performance by most key metrics, finishing the quarter with higher average AUM, base fees, performance fees and fee rate, and an adjusted incremental margin of 78%, or 55% excluding prior-year quarter one-timers.

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