Adjusted profit came in at $1.75 a share versus a $1.77 estimate, while quarterly revenue was $4.1 billion and net premiums in Japan fell 12.7%.
Aflac missed Wall Street expectations for second-quarter adjusted profit and revenue as a stronger dollar and weakness in its Japan business weighed on results. The insurer earned $1.75 a share, 2 cents below the LSEG analyst estimate, and reported $4.1 billion in revenue against a $4.16 billion forecast. The weaker yen/dollar exchange rate cut adjusted profit by 5 cents, Japan net premiums earned fell 12.7% to $1.5 billion, and U.S. net premiums earned rose 2.3% to $1.5 billion as U.S. sales increased 2.6% to $349 million, helped by group voluntary and network dental and vision products.