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AXA Reports 11% Increase in Net Income for Fiscal 2024

AXA's net income rises 11% to €7.9 billion in fiscal 2024. This strong growth reflects improvement in underlying earnings and EPS, contributing positively to investor sentiment.

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AI Rating:   7
AXA's **financial performance** for fiscal 2024 shows a notable increase in key metrics: - **Net Income**: Increased by 11% to 7.9 billion euros. This substantial growth suggests improved overall profitability, which is likely to bolster investor confidence. - **Underlying Earnings**: Up 7% to 8.1 billion euros. This consistent increase indicates strong operational performance. - **Earnings Per Share (EPS)**: Rose by 8% to 3.59 euros, further emphasizing the company's improving profitability on a per-share basis, which is attractive for investors. - **Gross Written Premiums & Other Revenues**: Increased by 8% to 110 billion euros, showing solid growth in revenue streams, essential for continuing business expansion. Management's optimistic outlook includes a target of 6-8% CAGR for underlying earnings per share and an anticipated return on equity between 14% and 16% from 2024 to 2026, which indicates a strong growth trajectory. Furthermore, AXA's proposed **dividend** of 2.15 euros per share will appeal to income-focused investors. The approved share buy-back program of up to 1.2 billion euros aims to return capital to shareholders, potentially supporting the stock price. With plans for a larger share buy-back post divestment of AXA Investment Managers to BNP Paribas, investor sentiment may remain positive as it suggests confidence in cash generation.
Stocks:  AXAHY