July 25, 2012 / 8:46 PM / 5 years ago

Ameriprise 2nd-qtr profit falls

* Q2 EPS $0.99 vs $$1.27 year ago

* Q2 oper EPS $1.13

* Q2 Asset Management oper rev down 6 pct

July 25 (Reuters) - Broker dealer Ameriprise Financial Inc posted a drop in quarterly profit, hurt by lower revenue at its asset management segment.

Net income from continuing operations for the second quarter fell to $224 million, or 99 cents per share, from $319 million, or $1.27 per share, a year ago.

On an operating basis, the company earned $1.13 per share.

Analysts on average expected the company to earn $1.32 per share, excluding items, according to Thomson Reuters I/B/E/S.

Operating revenue at the company’s asset management segment fell 6 percent to $707 million, while the unit’s assets under management were down 5 percent at $446 billion.

Shares of the Minneapolis-based company closed at $47.98 on Monday on the New York Stock Exchange. (Reporting by Aman Shah in Bangalore; Editing by Anil D‘Silva)

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