Ameriprise Financial Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Ameriprise Financial Inc. (AMP) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $990 million, or $9.46 per share. This compares with $417 million, or $3.79 per share, in last year's first quarter.

Excluding items, Ameriprise Financial Inc. reported adjusted earnings of $878 million or $8.39 per share for the period.

Analysts on average had expected the company to earn $8.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.0% to $4.15 billion from $3.74 billion last year.

Ameriprise Financial Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $990 Mln. vs. $417 Mln. last year. -EPS (Q1): $9.46 vs. $3.79 last year. -Revenue (Q1): $4.15 Bln vs. $3.74 Bln last year.