AXA 2011 Net Profit Rises 57%

AXA SA

reported a 57% gain in its 2011 net profit. AXA's net income for the full year climbed to 4.32 billion euros ($5.62 billion), versus €2.75 billion in 2010. Its revenue dropped 4% to €86.1 billion, from €89.4 billion. At constant currencies, sales dropped 2%. However, analysts were expecting a net profit of €5.96 billion. AXA shares closed at $15.88 yesterday.