NEW YORK (AP) _ Voya Financial Inc. (VOYA) on Tuesday reported third-quarter net income of $148.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had profit of 81 cents. Earnings, adjusted for non-recurring gains, were 51 cents per share.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
The retirement, investment and insurance company posted revenue of $2.55 billion in the period. Its adjusted revenue was $226.5 million, which also fell short of Street forecasts. Twelve analysts surveyed by Zacks expected $322.9 million.
Voya shares have increased slightly more than 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $40.16, a rise of 31 percent in the last 12 months.
This story was generated by Automated Insights (http://ift.tt/1nCTSu9) using data from Zacks Investment Research. Access a Zacks stock report on VOYA at http://ift.tt/2vtkIka
The post Voya Misses Street 3Q Forecasts appeared first on InsuranceNewsNet.
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