Ameriprise Financial Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Ameriprise Financial Inc. (AMP) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $548M, or $4.86 per share. This compares with $1.03 billion, or $8.65 per share, in last year's third quarter.

Excluding items, Ameriprise Financial Inc. reported adjusted earnings of $725 million or $6.43 per share for the period.

Analysts on average had expected the company to earn $5.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.3% to $3.49 billion from $2.90 billion last year.

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

-Earnings (Q3): $548M. vs. $1.03 Bln. last year. -EPS (Q3): $4.86 vs. $8.65 last year. -Analyst Estimates: $5.85 -Revenue (Q3): $3.49 Bln vs. $2.90 Bln last year.