Ameriprise Financial Inc. Profit Drops 47% In Q3

(RTTNews) - Ameriprise Financial Inc. (AMP) revealed earnings for third quarter that decreased compared to the same period last year.

The company said its bottom line declined to $227 million, or $1.37 per share. This was lower than $429 million, or $2.35 per share, in last year's third quarter.

Analysts had expected the company to earn $2.42 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.8% to $3.00 billion. This was up from $2.89 billion last year.

Ameriprise Financial Inc. earnings at a glance:

-Earnings (Q3): $227 Mln. vs. $429 Mln. last year. -Earnings Decline (Y-o-Y): -47.1% -EPS (Q3): $1.37 vs. $2.35 last year. -EPS Decline (Y-o-Y): -41.7% -Analysts Estimate: $2.42 -Revenue (Q3): $3.00 Bln vs. $2.89 Bln last year. -Revenue Change (Y-o-Y): 3.8%