MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Ameriprise Financial Services Inc. (AMP) on Thursday reported first-quarter net income of $583 million.
The Minneapolis-based company said it had net income of $5.83 per share. Earnings, adjusted for one-time gains and costs, came to $9.50 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $9.12 per share.
The financial services company posted revenue of $4.35 billion in the period. Its adjusted revenue was $4.31 billion, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $4.38 billion.
Ameriprise shares have fallen 11% since the beginning of the year, while the S&P's 500 index has decreased almost 9%. The stock has climbed 16% 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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