MGIC: 3Q Earnings Snapshot

MILWAUKEE (AP) _ MGIC Investment Corp. (MTG) on Wednesday reported third-quarter profit of $130.8 million.

The Milwaukee-based company said it had net income of 38 cents per share. Earnings, adjusted for one-time gains and costs, came to 43 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The mortgage insurance company posted revenue of $296 million in the period. Its adjusted revenue was $293.7 million.

MGIC shares have decreased 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.76, a drop of 23% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTG at https://www.zacks.com/ap/MTG