Ameriprise Financial (AMP) Revenue — Quarter Ended Jun 30, 2024
Revenue increased in the current quarter compared to both the prior quarter and the same quarter last year. The growth reflects higher management and financial advice fees, net investment income, and distribution fees.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased in the current quarter compared to both the prior quarter and the same quarter last year. The growth reflects higher management and financial advice fees, net investment income, and distribution fees.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.4B
Revenue reported for this quarter.
Quarter-over-quarter
+1.5%
Change from the immediately preceding quarter.
Year-over-year
+9.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$17B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2023 | $4.1B | +16.5% |
| Dec 31, 2023 | $4.2B | +12.1% |
| Mar 31, 2024 | $4.3B | +12.5% |
| Jun 30, 2024 | $4.4B | +9.6% |
Revenue performance
Total net revenues rose, driven by increases in management and financial advice fees and net investment income, while banking and deposit interest expense also grew.
Quarterly comparison
Revenue was higher than the immediately preceding quarter and also exceeded the level reported in the same quarter one year earlier. The trailing twelve-month revenue also showed an increase.
What to watch
Monitor the trend in banking and deposit interest expense, which increased compared to both the prior quarter and the prior year period.