Ameriprise Financial Reports Q4 EPS of $1.18 vs. $1.31

Ameriprise Financial, Inc. AMP today reported net income of $305 million for the fourth quarter of 2010 compared to $237 million for the fourth quarter of 2009. Net income per diluted share for the fourth quarter of 2010 was $1.18 compared to $0.90 a year ago. Operating earnings increased 30 percent to $312 million in the fourth quarter of 2010 compared to $240 million a year ago. Operating earnings per diluted share were $1.21 in the fourth quarter of 2010, up 33 percent from $0.91 a year ago. Operating earnings growth was driven by strength in Asset Management and Advice & Wealth Management. Operating net revenues were $2.6 billion in the fourth quarter of 2010, up 19 percent from $2.2 billion a year ago, due to growth in asset-based fees driven by the Columbia Management acquisition, market appreciation and retail client net inflows, as well as increased client activity levels.