American International Group posts 2Q profit of $1.8 billion, result tops expectations

MarketsAssociated Press

American International Group Inc. (AIG) on Monday reported second-quarter profit of $1.8 billion.

The New York-based company said it had profit of $1.32 per share. Earnings, adjusted for one-time gains and costs, were $1.39 per share.

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The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The insurer posted revenue of $13.37 billion in the period.

American International Group shares have increased 15 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 2 percent. In the final minutes of trading on Monday, shares hit $64.15, a rise of 23 percent 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 http://www.zacks.com/ap/AIG

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Keywords: American International Group, Earnings Report