CINCINNATI (AP) — CINCINNATI (AP) — American Financial Group Inc. (AFG) on Tuesday reported second-quarter profit of $209 million.
The Cincinnati-based company said it had profit of $2.49 per share. Earnings, adjusted for non-recurring costs, were $2.56 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.53 per share.
The property and casualty insurer posted revenue of $1.9 billion in the period. Its adjusted revenue was $1.8 billion, missing Street forecasts. Four analysts surveyed by Zacks expected $2.02 billion.
American Financial shares have risen nearly 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $124.34, a climb of slightly more than 9% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AFG at https://www.zacks.com/ap/AFG
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