Ameriprise Beats 1Q Profit Forecasts

MINNEAPOLIS (AP) _ Ameriprise Financial Services Inc. (AMP) on Monday reported first-quarter profit of $403 million.

On a per-share basis, the Minneapolis-based company said it had net income of $2.52. Earnings, adjusted for non-recurring costs, were $2.70 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.

The financial services company posted revenue of $2.9 billion in the period.

Ameriprise shares have climbed 19 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. In the final minutes of trading on Monday, shares hit $131.86, a rise of 32 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMP at https://www.zacks.com/ap/AMP

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