COLUMBUS, Ga. (AP) — COLUMBUS, Ga. (AP) — Aflac Inc. (AFL) on Wednesday reported first-quarter profit of $29 million.
The Columbus, Georgia-based company said it had profit of 5 cents per share. Earnings, adjusted for non-recurring costs, were $1.66 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.
The insurer posted revenue of $3.4 billion in the period. Its adjusted revenue was $4.32 billion, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $4.38 billion.
Aflac shares have risen 5% since the beginning of the year, while the S&P’s 500 index has decreased slightly more than 5%. In the final minutes of trading on Wednesday, shares hit $108.68, a rise of 30% 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 AFL at https://www.zacks.com/ap/AFL
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