NEW YORK, Jan 25, 2007 (Reuters) - Ameriprise Financial Inc. <AMP.N>, a brokerage and asset manager spun off from American Express in 2005, said on Thursday that net income rose 54 percent, as it gained wealthy and affluent customers.
The company said fourth-quarter net income was $171 million, or 69 cents a share, up from $111 million, or 44 cents a share, a year earlier.
Adjusted earnings rose to $251 million, or $1.02 a share, from $193 million, or 77 cents a share.
Adjusted earnings exclude separation costs and discontinued operations linked to its spin-off from American Express.
Analysts had, on average, expected earnings of 84 cents a share, according to Reuters Estimates.
Ameriprise's fourth-quarter revenue grew 16 percent from the same quarter in 2005, to $2.2 billion. |
