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Ameriprise Financial Inc. (AMP) reported its second-quarter earning after the close of trading on Tuesday. Here's what you need to know:
PROFIT: Ameriprise's profits rose 18 percent compared to last year to $462 million, or $3.10 a share. Adjusted earnings that account for the market values of various investments totaled $536 million, or $3.60 a share, in line with analysts polled by FactSet.
SALES: Total net revenue at Ameriprise rose 6 percent versus the second quarter last year to more than $3.19 billion, ahead of FactSet's consensus forecast of $3.12 billion
FEE FLOW: Ameriprise said demand for its fee-based investment advisory business increased in the quarter, with net inflows of $5.3 billion, increasing total assets in the business to $259 billion.
SHARES: The stock gained 1.2% in off-hours trading to $144.20 a share. For the year, shares in Ameriprise have fallen 16%.
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(END) Dow Jones Newswires
July 24, 2018 17:55 ET (21:55 GMT)
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