NEW YORK (AP) — NEW YORK (AP) — American International Group Inc. (AIG) on Tuesday reported fourth-quarter earnings of $898 million.
The New York-based company said it had net income of $1.43 per share. Earnings, adjusted for non-recurring gains, were $1.30 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The insurer posted revenue of $7.18 billion in the period. Its adjusted revenue was $6.85 billion, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $6.77 billion.
For the year, the company reported a loss of $1.4 billion, or $2.17 per share, swinging to a loss in the period. Revenue was reported as $26.95 billion.
American International Group shares have increased slightly more than 4% since the beginning of the year, while the S&P’s 500 index has risen 3%. In the final minutes of trading on Tuesday, shares hit $75.93, a rise of roughly 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 AIG at https://www.zacks.com/ap/AIG
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