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reported a 19% gain in third-quarter profit, but revenue came in a bit shy of what Wall Street was expecting.

In the quarter, the overall firm earned $252.9 million, or 87 cents a share, up from $211.9 million, or 74 cents a share. Net revenue rose 17% to $934 million.

Earnings at the publicly traded portion of the firm were $74 million, up from $60.5 million.

Analysts, as surveyed by Thomson Financial, were looking for earnings of 87 a cents a share on revenue of $943.8 million.

Assets under management at quarter's end rose nearly 19% from a year ago to $659.3 million. In the most recent quarter, the firm said it had $8.3 billion in net inflows.

Shares of AllianceBernstein closed Wednesday at $74.88, down 69 cents.