NEW YORK (AP) — NEW YORK (AP) — American International Group Inc. (AIG) on Wednesday reported fourth-quarter earnings of $271 million.
On a per-share basis, the New York-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs, were $1.36 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The insurer posted revenue of $11.59 billion in the period. Its adjusted revenue was $12.17 billion.
For the year, the company reported profit of $10.28 billion, or $13.01 per share. Revenue was reported as $45.38 billion.
American International Group shares have dropped 2% since the beginning of the year, while the S&P’s 500 index has climbed 8%. In the final minutes of trading on Wednesday, shares hit $61.83, a climb of slightly more than 2% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIG at https://www.zacks.com/ap/AIG
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
