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Ameriprise Earnings Rise 39%

The asset-manager beats Wall Street expectations.
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Ameriprise Financial

(AMP) - Get Ameriprise Financial, Inc. Report

, the asset management firm, reported a 39% gain in third-quarter profit.

The former financial planning arm of

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American Express

(AXP) - Get American Express Company Report

earned $174 million, or 71 cents a share, compared to $125 million, or 50 cents a share, a year ago. Revenue rose 6 percent to $1.98 billion from $1.87 billion

Operating earnings, which takes into account the impact of the spin-off from American Express, were 94 cents a share.

On that basis, Ameriprise beat the Thomson Financial consensus estimate of 80 cents a share. Revenue was in line with the analyst estimate of $1.97 billion.