MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Ameriprise Financial $AMP Services Inc. (AMP) on Wednesday reported fourth-quarter profit of $377 million.
The Minneapolis-based company said it had net income of $3.57 per share. Earnings, adjusted for non-recurring costs and severance costs, were $7.75 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $7.67 per share.
The financial services company posted revenue of $4.17 billion in the period. Its adjusted revenue was $3.99 billion, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $3.87 billion.
For the year, the company said profit was nearly unchanged at $2.56 billion. Annual earnings per share rose to $23.71 from $22.51.
Ameriprise shares have risen 2.5% since the beginning of the year, while the S&P's 500 index has climbed 2%. In the final minutes of trading on Wednesday, shares hit $389.46, a climb of 14% 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