American International Group: Q4 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — American International Group Inc. (AIG) on Tuesday reported fourth-quarter earnings of $735 million.
The New York-based company said it had net income of $1.35 per share. Earnings, adjusted for non-recurring costs, were $1.96 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The insurer posted revenue of $6.55 billion in the period. Its adjusted revenue was $6.95 billion, which missed Street forecasts. Four analysts surveyed by Zacks expected $7.1 billion.
American International Group shares have dropped 12% since the beginning of the year, while the S&P’s 500 index has risen slightly more than 1%. In the final minutes of trading on Tuesday, shares hit $75, falling slightly 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