Ameriprise (AMP) Dips Despite Q4 Earnings Beat, Costs Rise Y/Y

Ameriprise Financial’s (AMP) fourth-quarter 2023 adjusted operating earnings (excluding regulatory accrual, severance and mark-to-market impacts on share-based compensation expenses) of $7.75 per share handily surpassed the Zacks Consensus Estimate of $7.67. The bottom line reflects a rise of 14% from the year-ago quarter.Results were aided by revenue growth, along with higher assets under management (AUM) and assets under administration (AUA) balances. However, an increase in expenses was a negative. Proba ...