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American International Group: 2Q Earnings Snapshot

Associated Press
Updated

NEW YORK (AP) _ American International Group Inc. (AIG) on Wednesday reported second-quarter profit of $1.11 billion.

On a per-share basis, the New York-based company said it had profit of $1.24. Earnings, adjusted for non-recurring costs, came to $1.43 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The insurer posted revenue of $12.56 billion in the period. Its adjusted revenue was $12.16 billion.

American International Group shares have risen 38% since the beginning of the year, while the Standard & Poor's 500 index has climbed 15%. In the final minutes of trading on Wednesday, shares hit $54.41, a rise of roughly 3% 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