NEW YORK (AP) _ Voya Financial Inc. (VOYA) on Tuesday reported fourth-quarter net income of $121 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had profit of 76 cents. Earnings, adjusted for non-recurring costs, came to $1.32 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The retirement, investment and insurance company posted revenue of $2.18 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $300.4 million.
For the year, the company reported net income of $875 million, or $5.20 per share, swinging to a profit in the period. Revenue was reported as $8.51 billion.
Voya shares have risen 17 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $46.78, a decrease of slightly more than 4 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VOYA at https://www.zacks.com/ap/VOYA