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STOCKS PARE LOSSES AS U.S. CPI PRINT SEALS RATE-CUT BETS

Traders are now favouring a smaller cut from the Fed at its meeting next week

American International Group Second Quarter 2024 Earnings: Misses Expectations

editorial-team@simplywallst.com (Simply Wall St)
·1 min read

American International Group (NYSE:AIG) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$6.52b (down 11% from 2Q 2023).

  • Net income: US$382.0m (down 40% from 2Q 2023).

  • Profit margin: 5.9% (down from 8.7% in 2Q 2023). The decrease in margin was driven by lower revenue.

  • EPS: US$0.58 (down from US$0.88 in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

American International Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates significantly.

Looking ahead, revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Insurance industry in the US are expected to grow by 5.3%.

Performance of the American Insurance industry.

The company's shares are down 10% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for American International Group you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com