Ameriprise 1Q profit rises but misses Wall Street estimates

Net income climbed to $191 million, or 82 cents per share, from $165 million, or 68 cents per share, in the year-ago period.

The 2007 quarter included a charge of $55 million, or 22 cents per share, related to Ameriprise's separation from American Express, the credit-card lender.

The result fell short of analyst expectations for profit of 97 cents per share, according to Thomson Financial.

Higher management and financial advice fees helped push revenue 3 percent higher to $2.1 billion, from $2.02 billion last year.

Profit was kept down by $16 million, or 7 cents per share, in investment losses as the capital markets lurched during the period.

Ameriprise shares dipped 4 cents to $50.25 in aftermarket electronic trading, from their close at $50.29 in Tuesday's regular session.