Ameriprise: Q3 Earnings Snapshot
MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Ameriprise Financial Services Inc. (AMP) on Wednesday reported third-quarter profit of $872 million.
The Minneapolis-based company said it had profit of $8.14 per share. Earnings, adjusted for non-recurring gains, came to $7.68 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $7.58 per share.
The financial services company posted revenue of $3.93 billion in the period. Its adjusted revenue was $3.92 billion, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.96 billion.
Ameriprise shares have dropped slightly more than 1% since the beginning of the year, while the S&P's 500 index has climbed 9%. In the final minutes of trading on Wednesday, shares hit $307.14, an increase of 10% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMP at https://www.zacks.com/ap/AMP
