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Ameriprise Q3 Earnings Beat on Higher Revenues & AUM Growth

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Key Takeaways

  • Ameriprise posted Q3 adjusted earnings of $9.92 per share, up 12.3% year over year.
  • Revenues rose 6% to $4.61B, driven by record AUM and AUA of $1.66T.
  • The company repurchased 1.4M shares for $687M, while expenses increased 4.8%.

Ameriprise Financial’s (AMP - Free Report) third-quarter 2025 adjusted operating earnings of $9.92 per share handily surpassed the Zacks Consensus Estimate of $9.60. The bottom line reflected a rise of 12.3% from the year-ago quarter.

Results benefited from higher revenues and a solid improvement in assets under management (AUM) and assets under administration (AUA) balances. However, an increase in expenses was a headwind.

After considering significant items, net income (GAAP basis) was $912 million or $9.33 per share, up from $511 million or $5 per share in the prior-year quarter.

AMP’s Adjusted Revenues Increase, Expenses Rise

Adjusted operating total net revenues for the reported quarter were $4.61 billion, up 6% year over year. The top line surpassed the Zacks Consensus Estimate. Total GAAP net revenues were $4.8 billion, up 9% year over year.

Adjusted operating expenses totaled $3.47 billion, rising 4.8% year over year. We had projected adjusted expenses of $3.27 billion.

As of Sept. 30, 2025, total AUM and AUA were a record $1.66 trillion, up 7.9% year over year. Our estimate for the metric was $1.55 trillion.

Update on Ameriprise’s Share Repurchases

Ameriprise repurchased 1.4 million shares for $687 million in the reported quarter.

Our Take on Ameriprise Stock

Ameriprise is well-positioned for impressive top-line growth on the back of its robust AUM balance and business-restructuring initiatives. However, elevated expenses (mainly due to technology upgrades) will likely continue to hurt the bottom line.

Ameriprise Financial, Inc. Price, Consensus and EPS Surprise

Ameriprise Financial, Inc. Price, Consensus and EPS Surprise

Ameriprise Financial, Inc. price-consensus-eps-surprise-chart | Ameriprise Financial, Inc. Quote

AMP currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of AMP’s Peers

Invesco’s (IVZ - Free Report) third-quarter 2025 adjusted earnings of 61 cents per share surpassed the Zacks Consensus Estimate of 45 cents. The bottom line increased 38.6% from the prior-year quarter.

Invesco’s results were primarily aided by an increase in adjusted revenues. Moreover, growth in the AUM balance to record levels supported the results to an extent. However, an increase in adjusted operating expenses was a headwind.

BlackRock’s (BLK - Free Report) third-quarter 2025 adjusted earnings of $11.55 per share handily surpassed the Zacks Consensus Estimate of $11.25. The figure reflects a marginal rise from the year-ago quarter.

BlackRock’s results benefited from a rise in revenues. The AUM balance witnessed robust growth, reaching a record high of $13.46 trillion, driven by net inflows. However, higher expenses acted as a headwind.


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