News Column

AIG's 2Q profit climbs 13 percent

August 4, 2014

NEW YORK (AP) American International Group Inc. (AIG) on Monday reported net income that rose by 13 percent in its second quarter, and topped analysts' expectations.

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.

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Source: Associated Press

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