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Here's What Key Metrics Tell Us About Ameriprise (AMP) Q2 Earnings
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For the quarter ended June 2023, Ameriprise Financial Services (AMP - Free Report) reported revenue of $3.83 billion, up 10% over the same period last year. EPS came in at $7.44, compared to $5.81 in the year-ago quarter.
The reported revenue represents a surprise of -1.37% over the Zacks Consensus Estimate of $3.88 billion. With the consensus EPS estimate being $7.29, the EPS surprise was +2.06%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ameriprise performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Assets Under Administration: $247.95 million compared to the $238.63 million average estimate based on three analysts.
Total Assets Under Management - Eliminations: -$39.31 million versus the three-analyst average estimate of -$38.62 million.
Total Assets Under Management - Corporate & Other AUM: $0.30 million versus the three-analyst average estimate of $0.22 million.
Total assets Under Management and Administration: $1.28 billion versus the three-analyst average estimate of $1.26 billion.
Revenues- Net investment income: $811 million compared to the $650.28 million average estimate based on five analysts. The reported number represents a change of +182.6% year over year.
Revenues- Premiums, policy and contract charges: $383 million versus the five-analyst average estimate of $370.32 million. The reported number represents a year-over-year change of +4.9%.
Revenues- Distribution fees: $569 million compared to the $618.61 million average estimate based on four analysts. The reported number represents a change of +24.2% year over year.
Revenues- Management and financial advice fees: $2.20 billion compared to the $2.28 billion average estimate based on four analysts. The reported number represents a change of -3.4% year over year.
Revenues- Other revenues: $132 million versus the four-analyst average estimate of $124.32 million. The reported number represents a year-over-year change of +6.5%.
Revenues- Advice and Wealth Management- Net investment income: $483 million compared to the $375.44 million average estimate based on three analysts. The reported number represents a change of +302.5% year over year.
Revenue- Advice and Wealth Management- Other: $68 million versus the three-analyst average estimate of $65.47 million.
Revenues- Asset Management- Distribution fees: $90 million versus the three-analyst average estimate of $93.65 million. The reported number represents a year-over-year change of -10%.
Shares of Ameriprise have returned +8.8% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Ameriprise (AMP) Q2 Earnings
For the quarter ended June 2023, Ameriprise Financial Services (AMP - Free Report) reported revenue of $3.83 billion, up 10% over the same period last year. EPS came in at $7.44, compared to $5.81 in the year-ago quarter.
The reported revenue represents a surprise of -1.37% over the Zacks Consensus Estimate of $3.88 billion. With the consensus EPS estimate being $7.29, the EPS surprise was +2.06%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ameriprise performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Assets Under Administration: $247.95 million compared to the $238.63 million average estimate based on three analysts.
- Total Assets Under Management - Eliminations: -$39.31 million versus the three-analyst average estimate of -$38.62 million.
- Total Assets Under Management - Corporate & Other AUM: $0.30 million versus the three-analyst average estimate of $0.22 million.
- Total assets Under Management and Administration: $1.28 billion versus the three-analyst average estimate of $1.26 billion.
- Revenues- Net investment income: $811 million compared to the $650.28 million average estimate based on five analysts. The reported number represents a change of +182.6% year over year.
- Revenues- Premiums, policy and contract charges: $383 million versus the five-analyst average estimate of $370.32 million. The reported number represents a year-over-year change of +4.9%.
- Revenues- Distribution fees: $569 million compared to the $618.61 million average estimate based on four analysts. The reported number represents a change of +24.2% year over year.
- Revenues- Management and financial advice fees: $2.20 billion compared to the $2.28 billion average estimate based on four analysts. The reported number represents a change of -3.4% year over year.
- Revenues- Other revenues: $132 million versus the four-analyst average estimate of $124.32 million. The reported number represents a year-over-year change of +6.5%.
- Revenues- Advice and Wealth Management- Net investment income: $483 million compared to the $375.44 million average estimate based on three analysts. The reported number represents a change of +302.5% year over year.
- Revenue- Advice and Wealth Management- Other: $68 million versus the three-analyst average estimate of $65.47 million.
- Revenues- Asset Management- Distribution fees: $90 million versus the three-analyst average estimate of $93.65 million. The reported number represents a year-over-year change of -10%.
View all Key Company Metrics for Ameriprise here>>>Shares of Ameriprise have returned +8.8% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.