MGIC Investment Corp (MTG) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $204.2 million, or $0.77 per share. This compares with $191.1 million, or $0.66 per share, in last year's second quarter.
Excluding items, MGIC Investment Corp reported adjusted earnings of $204.9 million or $0.77 per share for the period.
Analysts on average had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 0.3% to $243.5 million from $242.8 million last year.
MGIC Investment Corp earnings at a glance (GAAP) :
-Earnings (Q2): $204.2 Mln. vs. $191.1 Mln. last year.
-EPS (Q2): $0.77 vs. $0.66 last year.
-Revenue (Q2): $243.5 Mln vs. $242.8 Mln last year.
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