Axa Financial Profits Up

Axa Financial Inc. reported Wednesday its second-quarter operating profit rose 19 percent on strong growth in its financial advisor and life insurance business. The firm’s operating profit rose to $322.4 million, or 74 cents per share, from $271.3 million, or 61 cents, in the year-earlier quarter, beating Wall Street expectations of 69 cents per share.

Net profit, including realized investment losses of $39 million, compared to a $184 million gain last year, fell to $291.1 million, or 64 cents per share, from $381 million, or 83 cents per share in the same quarter 1999. Second-quarter net revenue rose 16 percent to $2.78 billion.