Hotels, energy and financial services conglomerate Loews Corp reported a 16 percent increase in its fourth-quarter profit.

Net income was $466 million, or $1.12 per share, compared with $403 million, or $0.94 per share, in the year-ago quarter.

Analysts expected the company to earn 88 cents a share, according to Thomson Reuters I/B/E/S.

(Reporting by Sweta Singh in Bangalore; Editing by Maju Samuel)