American International Group posts 2Q profit

NEW YORK (AP) - American International Group Inc. (AIG) on Tuesday reported second-quarter net income of $1.91 billion.

On a per-share basis, the New York-based company said it had profit of $1.68. Earnings, adjusted for non-recurring gains, came to 98 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The insurer posted revenue of $13.13 billion in the period.

American International Group shares have dropped 13 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 5.5 percent. Its shares ended Tuesday at $54.14, a decrease of 16 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIG at http://www.zacks.com/ap/AIG.

Published: Thu, Aug 04, 2016

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