MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Ameriprise Financial Services Inc. (AMP) on Wednesday reported fourth-quarter profit of $1.07 billion.

On a per-share basis, the Minneapolis-based company said it had profit of $10.58. Earnings, adjusted for non-recurring gains, came to $9.36 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $8.94 per share.

The financial services company posted revenue of $4.5 billion in the period. Its adjusted revenue was $4.46 billion, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $4.45 billion.

For the year, the company reported profit of $3.4 billion, or $33.05 per share. Revenue was reported as $17.08 billion.

Ameriprise shares have climbed 8% since the beginning of the year, while the S&P's 500 index has increased 27%. In the final minutes of trading on Wednesday, shares hit $575.13, an increase of 46% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMP at https://www.zacks.com/ap/AMP