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On Weak Revenues and an Earnings Miss, AIG Shares Slide Lower

American International Group Inc. AIG just released their first quarter fiscal 2016 earnings results, posting earnings of $0.65 per share and revenue of $11.779 billion.

Currently, AIG has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

American International Group Inc:                

Missed earnings estimates. The company posted $0.65 per share, missing our Zacks Consensus Estimate of $0.99.  This excludes $0.81 in non-recurring items.

Missed revenue estimates. The company saw revenue figures of $11.779 billion, missing our estimate of $12.689 billion.

“we’re still making targeted investments in our future, including our recently announced plans to form a joint venture with Hamilton Insurance Group and Two Sigma to develop insurance solutions informed by data and technology for the small to medium-sized enterprise market”-CEO Peter D. Hancock.

After-tax operating income came in at $773 million, representing a 54% decrease from the same quarter last year.

AIG was down $1.81, or 3.20%, to $54.78 as of 5:01 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at AIG’s reported EPS over the last five quarters.

American International Group, Inc., world leaders in insurance and financial services, is the leading international insurance organization with operations in more than one hundred thirty countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world.

Check back later for our full analysis on American International Group’s firstquarter earnings report!

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