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 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 , still down 34.82% from its 52 week high of €232.60 set on February 21. They are under-performing the DAX which is down 18.26% year to date.
Allianz shares lost 2.99% in intra-day trade following the report.
Allianz follows other major Financial sector earnings this month
Allianz's report follows an earnings beat by Deutsche Boerse on April 30, 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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