MINNEAPOLIS (AP) _ Ameriprise Financial Services Inc. (AMP) on Monday reported first-quarter earnings of $437 million.
On a per-share basis, the Minneapolis-based company said it had profit of $3.58. Earnings, adjusted for non-recurring costs, came to $5.43 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $4.73 per share.
The financial services company posted revenue of $3.35 billion in the period. Its adjusted revenue was $3.25 billion.
Ameriprise shares have climbed 27% since the beginning of the year, while the S&P's 500 index has increased 11%. In the final minutes of trading on Monday, shares hit $247.50, more than doubling in the last 12 months.