American International Group, Inc. (AIG) recently reported an increase in earnings for its first quarter compared to the same period in the previous year, surpassing market predictions.
The company's current total earnings are $1.19 billion or $1.74 per share. This is a significant rise from last year's first quarter, which came in at $0.02 billion or $0.03 per share.
When excluding certain factors, AIG's adjusted earnings stand at $1.22 billion or $1.77 per share for this period.
On average, analysts had forecasted AIG to earn $1.65 per share, based on data gathered by Thomson Reuters, with these predictions ordinarily excluding special items.
A brief overview of AIG's earnings - according to Generally Accepted Accounting Principles (GAAP) - reveals earnings for the first quarter at $1.19 billion, a substantial increase from $0.02 billion last year. Earnings per share (EPS) for the first quarter were $1.74, compared to $0.03 during the same period last year.
