Investing

AIG Beats Wall Street Estimates, Profit up 27%

American International Group, Inc. (NYSE: AIG) beat Wall Street estimates Thursday, posting a 27% profit increase in the second quarter from the year-earlier period.

The insurance company reported net income of $2.34 billion, while operating profit was $1.06 a share, higher than Wall Street analyst estimates of 57 cents a share, according to data compiled by Reuters.

AIG reported $9.1 billion in revenue for the second-quarter, referred to as net premiums written. This is down 0.8% from the year-earlier period but better than Wall Street analyst expectations of $8.84 billion.

Chartis, the property insurance arm of AIG, reported operating income of $936 million in the second quarter, compared to $783 million in the year-earlier period.

The U.S. government still owns 61% of AIG after it bailed out the company for $182 billion during the height of the financial crisis.

Shares are down 0.32% to $30.74 in the first 30 minutes after  market close.

Samuel Weigley

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

 

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.