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COLUMBUS, Ga. (AP) — COLUMBUS, Ga. (AP) — Aflac Inc. (AFL) on Wednesday reported first-quarter profit of $1.19 billion.
The Columbus, Georgia-based company said it had net income of $1.94 per share. Earnings, adjusted for non-recurring gains, were $1.55 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The insurer posted revenue of $4.8 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $4.6 billion.
Aflac shares have declined 9% since the beginning of the year, while the S&P's 500 index has climbed nearly 6%. In the final minutes of trading on Wednesday, shares hit $65.39, an increase of roughly 8% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AFL">Zacks stock report on AFL at https://www.zacks.com/ap/AFL