Ameriprise Financial reported fourth-quarter results Wednesday that beat expectations, despite a soft stock market, increased volatility and continued low interest rates.
The Minneapolis-based financial services company reported operating earnings $2.47 a share, up 7 percent from a year earlier and stronger than the $2.35 per share analysts were expecting.
Fourth-quarter operating earnings for the Minneapolis-based financial services company were $441 million, up from $440 million in the fourth quarter of 2014.
"Increased volatility and investor concerns reinforce the importance of the advice and solutions Ameriprise provides to our clients," Ameriprise chairman and CEO Jim Cracchiolo said in the company's news release.
Executives and analysts look more closely at Ameriprise's operating earnings, an after-tax measure that excludes the consolidation of certain investments, some charges and hedging activities.
Net income for the fourth quarter was $357 million, or $2.00 per diluted share, down 16 percent and 10 percent respectively from the fourth quarter of 2014.
Net income for the year was $1.6 billion, down 4 percent from 2014. Earnings per diluted share increased 2 percent to $8.48 per share.
In the fourth quarter Ameriprise repurchased 4.1 million shares of common stock worth $450 million and paid dividends of $119 million. For the full year, Ameriprise returned over $2.1 billion to shareholders through share repurchases and dividends.
