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NEW YORK (AP) _ American International Group Inc. (AIG) on Wednesday reported fourth-quarter net income of $3.75 billion, after reporting a loss in the same period a year earlier.
The New York-based company said it had net income of $4.38 per share. Earnings, adjusted for non-recurring earnings, came to $1.58 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The insurer posted revenue of $14.09 billion in the period. Its adjusted revenue was $13.69 billion.
For the year, the company reported net income of $9.39 billion, or $10.82 per share, swinging to a profit in the period. Revenue was reported as $47.96 billion.
American International Group shares have risen 6% since the beginning of the year, while the S&P’s 500 index has fallen 6%. In the final minutes of trading on Wednesday, shares hit $60.34, a rise of 43% 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 to Zacks stock report on AIG at https://www.zacks.com/ap/AIG
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