Ameriprise Financial Inc. Q4 Profit Increases, beats estimates

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

The company's bottom line came in at $701 million, or $5.96 per share. This compares with $177 million, or $1.43 per share, in last year's fourth quarter.

Excluding items, Ameriprise Financial Inc. reported adjusted earnings of $723 million or $6.15 per share for the period.

Analysts on average had expected the company to earn $5.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.4% to $3.70 billion from $3.18 billion last year.

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

-Earnings (Q4): $701 Mln. vs. $177 Mln. last year. -EPS (Q4): $5.96 vs. $1.43 last year. -Analyst Estimate: $5.70 -Revenue (Q4): $3.70 Bln vs. $3.18 Bln last year.