MGIC: Q1 Earnings Snapshot

MILWAUKEE (AP) — MILWAUKEE (AP) — MGIC Investment Corp. (MTG) on Wednesday reported first-quarter profit of $174.1 million.

The Milwaukee-based company said it had net income of 64 cents per share. Earnings, adjusted for investment costs, were 65 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The mortgage insurance company posted revenue of $294.4 million in the period. Its adjusted revenue was $302.9 million.

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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