Ameriprise Earnings: Wealth Management Segment Leading to Stronger Performance Than Peers

Ameriprise reported net income of $890 million, or $8.21 per diluted share, on $3.9 billion of net revenue for the second quarter of 2023. On a company-provided adjusted operating basis (which excludes the effect of changes in interest rates on some of its products), the company reported pro forma operating earnings per share of $7.44, up 30% from the previous year. Adjusted operating return on equity (excluding accumulated other comprehensive income) was a strong 50.9% for the quarter.