Equitable Holdings, Inc. (NYSE: EQH) shares fell 10.9% since it reported second-quarter 2024 results on Jul 30, 2024, after the closing bell. Its strong second-quarter earnings benefited on the back of higher AUM/A, growth in spread income and fee-based revenues. Improved performance in Wealth Management and asset management were major tailwinds. However, the upside was partly offset by an elevated overall expense level. EQH reported second-quarter 2024 adjusted earnings per share of $1.43, which outpaced the Zacks Consensus Estimate by 2.1%. The bottom line jumped from $1.17 per share a year ago. Operating revenues of $3.6 billion improved 7.7% year over year in the second quarter but missed the consensus estimate by 4.4%. Equitable Holdings, Inc. Price, Consensus and EPS Surprise Equitable Holdings, Inc. price-consensus-eps-surprise-chart | Equitable Holdings, Inc. Quote Q2 Performance Details Policy charges and fee income amounted to $617 million, which rose from $594 million a year ago. Premiums of $282 million increased by $2 million from the year-ago period. Net investment income of $1.17 billion climbed from $1.04 billion a year ago. Total benefits and other deductions increased to $2.8 billion from $1.8 billion in the year-ago quarter. The year-over-year rise was due to higher compensation and benefits, commissions and distribution-related payments, partially offset by lower policyholders' benefits. A higher change in market risk benefits and purchased market risk benefits in the year-ago quarter lowered the year-ago total expenses. Pre-tax income was at $681 million, up from $539 million in the year-ago ...