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American International Group: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ American International Group Inc. (AIG) on Thursday reported third-quarter net income of $288 million.

On a per-share basis, the New York-based company said it had profit of 32 cents. Earnings, adjusted for one-time gains and costs, came to 81 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The insurer posted revenue of $10.22 billion in the period. Its adjusted revenue was $11.34 billion.

American International Group shares have declined 35% since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 9%. In the final minutes of trading on Thursday, shares hit $33.36, a decrease of 39% 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 https://www.zacks.com/ap/AIG