Genworth Financial Inc. (GNW) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line totaled $54 million, or $0.13 per share. This compares with $139 million, or $0.31 per share, last year.
Excluding items, Genworth Financial Inc. reported adjusted earnings of $51 million or $0.12 per share for the period.
Analysts on average had expected the company to earn $0.21 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 4.2% to $1.786 billion from $1.864 billion last year.
Genworth Financial Inc. earnings at a glance (GAAP) :
-Earnings: $54 Mln. vs. $139 Mln. last year.
-EPS: $0.13 vs. $0.31 last year.
-Revenue: $1.786 Bln vs. $1.864 Bln last year.
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