MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Ameriprise Financial Services Inc. (AMP) on Wednesday reported third-quarter net income of $511 million.
The Minneapolis-based company said it had profit of $5 per share. Earnings, adjusted for non-recurring costs including severance expenses, were $9.02 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $8.91 per share.
The financial services company posted revenue of $4.4 billion in the period. Its adjusted revenue was $4.35 billion, which topped Street forecasts. Six analysts surveyed by Zacks expected $4.31 billion.
Ameriprise shares have increased 37% since the beginning of the year, while the S&P’s 500 index has increased 22%. In the final minutes of trading on Wednesday, shares hit $520.81, a rise of 67% 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
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