AEGON N.V. (ADR) (NYSE: AEG) Falls after Quarterly Results
November 12, 2009 10:04 AM
AEGON N.V. (ADR) (NYSE: AEG) today announced sales of $484 million euros, a decline of 22% same quarter last year. Net profit for 3Q was 145 million euros against a net loss of 329 million euros last year due to lower U.S. write downs, better life insurance sales and cost-reduction initiatives taken by Aegon.
Analysts on an average were expecting Aegon to report net profit of 104.8 million euros and EBT of 375 million euros for the third quarter. Moreover, Chief Executive Alex Wynaendts reported that Aegon is scheduled to repay 1 billion euros at the end of November to the Dutch government for the capital support that it received last year.
As a result, shares of AEGON N.V. (ADR) (NYSE: AEG) fell 3.69% to $7.89 in the pre-market trading. Yesterday AEG closed at $8.13.
