Insurance titan American International Group on Monday posted quarterly results that missed analysts' estimates, though it highlighted progress in cost-cutting and restructuring.
AIG reported first-quarter adjusted earnings of 65 cents per share, down from earnings of $1.22 per share in the year-earlier period. After-tax operating income dropped 54 percent to $773 million from $1.69 billion.
The company did not immediately disclose its quarterly sales. AIG said "the negative impact of market volatility on investments" hit its results during the quarter.
Wall Street expected AIG to report first-quarter earnings of $1 per share on $13.57 billion in revenue, according to a Thomson Reuters consensus estimate.
The company's shares fell about 3 percent in after-hours trading Monday.