AIG Earnings Cheat Sheet: Total Sales Drop 6% As Profits Fall
S&P 500 (NYSE:SPY) component American International Group Inc (NYSE:AIG) reported its results for the first quarter. American International Group is a holding company which, through its subsidiaries, is engaged in insurance and insurance related activities in the global marketplace.
American International Group Inc Earnings Cheat Sheet for the First Quarter
Results: Net income fell to $269 million from $1.78 billion a year earlier.
Revenue: Total revenue fell 6% to $17.44 billion YoY.
Actual vs. Wall St. Expectations: The mean estimate for AIG was a loss of 15 cents/share. Estimates ranged from a loss of 5 cents per share to a loss of 28 cents per share.
Competitors to Watch: Hartford Financial Services (NYSE:HIG), HCC Insurance Hldgs., Inc. (NYSE:HCC), American Financial Group (NYSE:AFG), ACE Limited (NYSE:ACE), The Chubb Corporation (NYSE:CB), The Travelers Companies, Inc. (NYSE:TRV), White Mountains Insurance Group, Ltd. (NYSE:WTM), CNA Financial Corporation (NYSE:CNA), and Loews Corporation (NYSE:L)
Stock Performance: Shares of AIG are down .94% from today’s closing price of $30.79.