Embattled fund giant Alliance Capital announced that fourth-quarter profits stormed higher as a year-end rally in the stock market boosted revenue.

The New York-based money manager posted net income of $233.2 million, or 82 cents a share, a robust spike from the $53.5 million, or 13 cents a share, it earned in the year-ago period. Wall Street analysts, on average, were expecting earnings of 70 cents a share, according to research firm Thomson ONE Analytics.

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