NEW YORK (AP) 鈥� NEW YORK (AP) 鈥� American International Group Inc. (AIG) on Thursday reported second-quarter profit of $948 million.
The New York-based company said it had net income of $1.78 per share. Earnings, adjusted for non-recurring costs, came to $2 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The insurer posted revenue of $7.09 billion in the period. Its adjusted revenue was $7.11 billion, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $7.27 billion.
American International Group shares have fallen 6.5% since the beginning of the year, while the S&P’s 500 index has risen 13%. In the final minutes of trading on Thursday, shares hit $79.97, a rise of 1% in the last 12 months.
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