Ameriprise Financial Earnings Surprise on Retreating Expenses

   By Ezequiel Minaya

Ameriprise Financial Inc. posted better-than-expected quarterly operating earnings as expenses slipped 2% at the financial-services company.

Total expenses for the period retreated 2.4% to $2.59 billion. The company also repurchased some 3.8 million shares of common stock in the quarter.

Net income rose to $400 million, or $2.46 a share, from $357 million, or $2.00 a share, a year ago. Operating earnings, which exclude realized gains and losses, market effects on variable annuity benefits and other items, rose to $2.73 a share from $2.47.

Revenue slipped 1.3% to $3.06 billion.

Analysts polled by Thomson Reuters expected per-share operating profit of $2.43 a share with revenue of $2.96 billion.

Ameriprise was spun off from American Express Co. in September 2005.

Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com

(END) Dow Jones Newswires

February 01, 2017 17:26 ET (22:26 GMT)

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