American Financial Beats 2Q Profit Forecasts

CINCINNATI (AP) _ American Financial Group Inc. (AFG) on Tuesday reported second-quarter net income of $145 million.

The Cincinnati-based company said it had net income of $1.61 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The property and casualty insurer posted revenue of $1.65 billion in the period. Its adjusted revenue was $1.58 billion.

American Financial expects full-year earnings in the range of $6.40 to $6.90 per share.

American Financial shares have increased 16 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $101.92, a climb of 40 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AFG at https://www.zacks.com/ap/AFG

Keywords: American Financial Group, Earnings Report