Ameriprise Financial Inc. Q3 Profit Decreases, Misses Estimates

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

The company's bottom line totaled $511 million, or $5.00 per share. This compares with $872 million, or $8.14 per share, in last year's third quarter.

Excluding items, Ameriprise Financial Inc. reported adjusted earnings of $828 million or $8.10 per share for the period.

Analysts on average had expected the company to earn $8.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.0% to $4.397 billion from $3.925 billion last year.

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

-Earnings (Q3): $511 Mln. vs. $872 Mln. last year. -EPS (Q3): $5.00 vs. $8.14 last year. -Revenue (Q3): $4.397 Bln vs. $3.925 Bln last year.