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Ameriprise Q4 beats, driven by Advice & Wealth Management

Published 01/30/2019, 05:54 PM
© Reuters.  Ameriprise Q4 beats, driven by Advice & Wealth Management
AMP
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  • Ameriprise Financial (NYSE:AMP) Q4 adjusted operating EPS of $3.80 beats consensus estimate of $3.58.
  • Chairman and CEO Jim Cracchiolo says the company delivered "solid results in a volatile quarter with our Advice and Wealth Management business driving our growth."
  • Q4 net revenue of $3.18B rose were unchanged from a year ago; compares with consensus estimate of $3.15B.
  • Advice & Wealth Management net revenue of $1.58B rose 5% Y/Y, while the unit's pretax adjusted operating earnings increased 13% to $368M.
  • Asset Management net revenue of $706M declined 13% Y/Y, as its pretax adjusted operating earnings fell 27% to $153M.
  • Annuities segment net revenue slipped 4% to $613M as its pretax adjusted operating earnings fell 66% to $51M.
  • Protection segment net revenue rose 3% to $543M and pretax adjusted operating earnings rose 43% to $67M.
  • Previously: Ameriprise Financial beats by $0.22, beats on revenue (Jan. 30)
  • Now read: AFLAC Q4 2018 Earnings Preview


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