Investing.com - Allianz (DE:ALVG) reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Allianz announced earnings per share of €3.21 on revenue of €42.6B. Analysts polled by Investing.com anticipated EPS of €4.15 on revenue of €38.3B. That with comparison to EPS of €4.65 on revenue of €40.3B in the same period a year before.Allianz had reported EPS of €4.44 on revenue of €35.5B in the previous quarter.Analysts are expecting EPS of €5.02 and revenue of €34.9B in the upcoming quarter.
Allianz shares are down 30% from the beginning of the year and are trading at €151.62 , down-from-52-week-high.They are under-performing the DAX which is down 18.26% year to date.
Allianz shares lost 2.99% in intra-day trade the report.
Allianz follows other major Financial sector earnings this month
Allianz's report follows an earnings beat by Deutsche Boerse on Thursday, April 30, 2020, who reported EPS of €2.11 on revenue of €914.8M, compared to forecasts EPS of €2.09 on revenue of €887.69M.
Muench. Rueckvers. had beat expectations on Friday with first quarter EPS of €1.57 on revenue of €9.24B, compared to forecast for EPS of €1.37 on revenue of €13.5B.
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