NEW YORK (AP) — NEW YORK (AP) — American International Group Inc. (AIG) on Wednesday reported second-quarter net income of $1.14 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had net income of $1.98. Earnings, adjusted for non-recurring gains, came to $1.81 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The insurer posted revenue of $7.09 billion in the period. Its adjusted revenue was $6.84 billion, also topping Street forecasts. Three analysts surveyed by Zacks expected $6.82 billion.
American International Group shares have climbed roughly 9% since the beginning of the year, while the S&P’s 500 index has increased almost 8%. In the final minutes of trading on Wednesday, shares hit $79.06, a climb of 11% 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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