NEW YORK – American International Group Inc. (AIG) on Monday reported net income that rose by 13 percent in its second quarter, and topped analysts' expectations.
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The New York-based company said net income increased to $3.07 billion, or $2.10 per share, from $2.73 billion, or $1.84 per share, in the same quarter a year ago.
Earnings, adjusted for non-recurring items and to account for discontinued operations, came to $1.25 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
American International Group shares added 2.5 percent to $53.99 in after-hours trading Monday. They have risen $1.61, or 3.2 percent, to $52.66 since the beginning of the year, while the Standard & Poor's 500 index has increased 4.9 percent.