Ameriprise Financial (AMP) Tops Q3 EPS by 73c

Ameriprise Financial (NYSE: AMP) reported Q3 operating EPS of $3.53, $0.73 better than the analyst estimate of $2.80.

“Ameriprise delivered a record third quarter driven by significant momentum in our Advice & Wealth Management business and asset growth across the firm,” said Jim Cracchiolo, chairman and chief executive officer.

“We reported new highs in retail client flows, assets and advisor productivity, and for the sixth consecutive quarter, increased client net inflows into fee-based investment advisory accounts. We’re serving more clients in our target markets of the affluent and mass affluent, as well as attracting quality advisors to Ameriprise.

“In Asset Management, we’re consistently delivering strong investment performance for clients while managing industry change and generating competitive financial results.

“We’re benefiting from our scale and effective expense management and investing for near-and long-term growth. We’re also consistently returning capital to shareholders through dividends and share repurchases and achieved a new high for return on equity at nearly 30 percent.”

For earnings history and earnings-related data on Ameriprise Financial (AMP) click here.

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