MINNEAPOLIS — MINNEAPOLIS — Ameriprise Financial Services Inc. (AMP) on Wednesday reported second-quarter net income of $829 million.
The Minneapolis-based company said it had net income of $8.02 per share. Earnings, adjusted for non-recurring costs, came to $8.53 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $8.51 per share.
The financial services company posted revenue of $4.22 billion in the period. Its adjusted revenue was $4.17 billion, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $4.19 billion.
Ameriprise shares have increased 12% since the beginning of the year, while the S&P’s 500 index has climbed 14%. In the final minutes of trading on Wednesday, shares hit $423.55, a rise of 19% in the last 12 months.
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