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Allianz Q2 Profit Declines, But Sales Rise; Backs FY22 Earnings View

Allianz SE (ALIZY), a German financial services provider, on Friday posted a decline in earnings for the second quarter.

Lower non-operating investment result for the quarter more than offset the decrease in income taxes and higher operating profit.

However, the company recorded a rise revenue for the same period. The company also confirmed its full-year operating profit outlook.

For the three-month period to June, the financial firm posted a net of 1.70 billion euros or 3.85 euros per share, compared with 2.22 billion euros or 5.22 euros per share a year ago.

Operating profit was at 3.49 billion euros, versus 3.31 billion euros of previous year quarter.

The Munich-headquartered company's total revenues were reported at 37.1 billion euros, compared with 34.3 billion euros in the June quarter of 2021.

Looking ahead, for the fiscal 2022, Allianz has confirmed its operating profit expectation of13.4 billion euros, plus or minus 1 billion euros.

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