Axa SA H1 Net Income Falls; Revenues Down 2% - Quick Facts

(RTTNews) - Axa SA (AXAHY.PK) reported first half net income of 1.43 billion euros, down 39% from a year ago. Net income per share was 0.56 euros compared to 0.92 euros. Underlying earnings were 1.89 billion euros, a decline of 48%. Underlying earnings per share was 0.75 euros compared to 1.46 euros. Adjusted earnings per share was 0.79 euros compared to 1.62 euros.

First half total revenues were down 2% to 52.4 billion euros. Total revenues were down 2%, reflecting strong growth in the first quarter (up 4%) and a decline in the second quarter (down 10%) in the context of Covid-19.

AXA re-affirmed its current best estimate for the impact on 2020 underlying earnings for the Group from Covid-19 related P&C claims and solidarity measures at 1.5 billion euros. In the context of the material estimated impact from Covid-19 on underlying earnings in 2020, AXA's management has withdrawn its Ambition 2020 underlying earnings per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.