MINNEAPOLIS (AP) 鈥� MINNEAPOLIS (AP) 鈥� Ameriprise Financial Services Inc. (AMP) on Thursday reported second-quarter net income of $1.11 billion.
The Minneapolis-based company said it had net income of $11.98 per share. Earnings, adjusted for non-recurring gains, were $11.07 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $10.72 per share.
The financial services company posted revenue of $4.94 billion in the period. Its adjusted revenue was $4.9 billion, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $4.79 billion.
Ameriprise shares have climbed slightly more than 7% since the beginning of the year, while the S&P’s 500 index has risen 9.5%. The stock has declined roughly 2% in the last 12 months.
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