American Financial Group Inc. (AFG) posted fourth quarter net income of $161 million or $1.38 per share, compared to $39 million or $0.32 per share in the fourth quarter last year. Core net operating earnings for the period were $121 million or $1.04 per share, compared to $122 million or $1.04 per share in the year-ago period.
On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.98 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter rose to $1.12 billion from $1.10 billion in the same quarter last year.
Looking forward, for the fiscal year 2010, the company increased its core earnings guidance to be between $3.30 and $3.70 per share from its previous forecast in the range of $3.10 to $3.50 per share. Street analysts expect earnings of $3.67 per share.
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