American International Group: 2Q Earnings Snapshot
NEW YORK (AP) _ American International Group Inc. (AIG) on Thursday reported second-quarter net income of $937 million.
The New York-based company said it had profit of $1.02 per share. Earnings, adjusted for non-recurring costs, were $1.05 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The insurer posted revenue of $11.63 billion in the period. Its adjusted revenue was $11.47 billion.
American International Group shares have decreased slightly more than 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 6 percent. In the final minutes of trading on Thursday, shares hit $55.16, a fall of 16 percent in the last 12 months.