AllianceBerstein released its Q1 earnings Wednesday. For the period ended March 31, the company's total assets under management increased $5 billion from the previous quarter to $501 billion. Compared of the first quarter of 2009, AUM was up $90 billion.

Year-over-year, net income was up from $31.5 to $131.5 million. However, income was down nearly $60 compared to Q4 2009's $190 million net.

Net revenue for the first quarter added up to $725 million. Of that, $511 million came from base and performance fees. Revenue was down from the prior quarter, when AllianceBernstein took in $81.8 million in revenue, yet up from the Q1 of 2009 total of $597.5 million.

 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE