MGIC: Q2 Earnings Snapshot

MILWAUKEE (AP) _ MGIC Investment Corp. (MTG) on Wednesday reported second-quarter profit of $153.1 million.

The Milwaukee-based company said it had net income of 44 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The mortgage insurance company posted revenue of $297.9 million in the period. Its adjusted revenue was $295.7 million.

MGIC shares have increased nearly 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.54, an increase of 64% 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