Voya Misses Street 1Q Forecasts
NEW YORK (AP) _ Voya Financial Inc. (VOYA) on Wednesday reported first-quarter profit of $191.6 million.
The New York-based company said it had net income of 92 cents per share. Earnings, adjusted for non-recurring gains, were 55 cents per share.
The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The retirement, investment and insurance company posted revenue of $239 million in the period, which also fell short of Street forecasts. Fourteen analysts surveyed by Zacks expected $297.3 million.
Voya shares have decreased 13 percent since the beginning of the year. The stock has fallen 26 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 VOYA at http://www.zacks.com/ap/VOYA
Keywords: Voya Financial, Earnings Report
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