Ameriprise Financial Inc.'s fourth-quarter profit rose 43 percent, pushed up by strong growth of fee-based business and market appreciation.
Fees, market gains lift Ameriprise profit 43%
January 29, 2015 at 11:54AM
The Minneapolis-based investment services firm on Wednesday reported net income of $426 million in the last three months of 2014, up from $298 million a year earlier. Revenue rose 5 percent to $3 billion.
Adjusted for one-time costs and discontinued operations, its profit amounted to $2.30 a share, above the $2.22 a share forecast of analysts.
For the year, Ameriprise saw its operating return on equity rise to 23 percent, a record.
Evan Ramstad
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