NEW YORK (AP) — NEW YORK (AP) — American International Group Inc. (AIG) on Monday reported third-quarter profit of $459 million.
The New York-based company said it had profit of 71 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.23 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The insurer posted revenue of $6.75 billion in the period. Its adjusted revenue was $6.84 billion.
American International Group shares have climbed 13% since the beginning of the year, while the S&P’s 500 index has increased 20%. In the final minutes of trading on Monday, shares hit $76.33, an increase of 19% in the last 12 months.
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