Arch Capital Group Ltd. (ACGL) reported that its first-quarter net income available to common shareholders was $157.8 million or $1.14 per share, compared to $19.0 million or $0.14 per share in the prior year quarter.
After-tax operating income available to shareholders soared to $113.7 million or $0.82 per share from $7.6 million or $0.06 per share in the comparable quarter last year.
On average, eighteen analysts polled by Thomson Reuters expected the company to report profit of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues were $815.01 million, compared with $775.07 million last year, while seven analysts estimated revenue of $812.75 million.
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