American International Group: Q2 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — American International Group Inc. (AIG) on Wednesday reported a second-quarter loss of $3.98 billion, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of $5.96. Earnings, adjusted to account for discontinued operations and non-recurring costs, came to $1.16 per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The insurer posted revenue of $6.56 billion in the period. Its adjusted revenue was $6.64 billion.

American International Group shares have climbed 17% since the beginning of the year, while the S&P's 500 index has risen 16%. In the final minutes of trading on Wednesday, shares hit $79.23, an increase of 31% 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