NEW YORK (AP) _ American International Group Inc. (AIG) on Wednesday reported a loss of $622 million in its fourth quarter.
On a per-share basis, the New York-based company said it had a loss of 70 cents. Losses, adjusted for non-recurring costs, came to 63 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The insurer posted revenue of $12.56 billion in the period. Its adjusted revenue was $12.33 billion.
For the year, the company reported that its loss narrowed to $6 million, or 1 cent per share. Revenue was reported as $47.52 billion.
American International Group shares have increased 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 10 percent. In the final minutes of trading on Wednesday, shares hit $44.18, a fall of 26 percent in the last 12 months.