MGIC: Q1 Earnings Snapshot
By AP News
Published - May 03, 2023, 05:02 PM ET
Last Updated - Jun 21, 2023, 11:13 PM EDT
MILWAUKEE (AP) — MILWAUKEE (AP) — MGIC Investment Corp. (MTG) on Wednesday reported first-quarter net income of $154.5 million.
The Milwaukee-based company said it had profit of 53 cents per share. Earnings, adjusted for investment costs, came to 54 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The mortgage insurance company posted revenue of $284 million in the period. Its adjusted revenue was $291.7 million.
