American International Group posts 3Q loss

Markets Associated Press

American International Group Inc. (AIG) on Thursday reported a third-quarter loss of $1.74 billion, after reporting a profit in the same period a year earlier.

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The New York-based company said it had a loss of $1.91 per share. Losses, adjusted for non-recurring costs, came to $1.22 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 83 cents per share.

The insurer posted revenue of $11.75 billion in the period.

American International Group shares have decreased 0.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 15 percent. In the final minutes of trading on Thursday, shares hit $64.98, a climb of slightly more than 7 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on AIG at https://www.zacks.com/ap/AIG