American Financial Group, Inc. (AFG: Quote) Monday said its profit for the second quarter increased, helped mainly by higher revenues.
Net income attributable to shareholders was $99 million or $1.01 per share, compared to $48 million or $0.46 per share in the same period last year.
On average, five analysts polled by Thomson Reuters expected the company to earn $0.78 per share for the quarter. Analysts' estimates typically exclude special items.
For the second quarter, the company recorded revenues of $1.15 billion. This compares to last year's adjusted revenues of $1.09 billion.
Looking ahead to the fiscal year 2012, the company lowered its earnings guidance to a range of $3.00 to $3.40 per share. This compares to the previous guidance range of $3.40 to $3.80 per share.
Analysts currently expect the company to report full-year earnings of $3.59 per share.
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by RTT Staff Writer
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