NEW YORK (AP) 鈥� NEW YORK (AP) 鈥� American International Group Inc. (AIG) on Thursday reported first-quarter net income of $763 million.
On a per-share basis, the New York-based company said it had profit of $1.41. Earnings, adjusted for non-recurring costs, were $2.11 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.
The insurer posted revenue of $6.65 billion in the period. Its adjusted revenue was $6.97 billion, which also topped Street forecasts. Three analysts surveyed by Zacks expected $6.89 billion.
American International Group shares have dropped 13% since the beginning of the year, while the S&P’s 500 index has climbed slightly more than 5%. In the final minutes of trading on Thursday, shares hit $74.80, a fall of 8% in the last 12 months.
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