Arch Capital: Q3 Earnings Snapshot
PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Arch Capital Group Ltd. (ACGL) on Monday reported third-quarter net income of $1.35 billion.
On a per-share basis, the Pembroke, Bermuda-based company said it had profit of $3.56. Earnings, adjusted for non-recurring gains, were $2.77 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.
The property and casualty insurer posted revenue of $5.11 billion in the period. Its adjusted revenue was $4.72 billion, missing Street forecasts. Four analysts surveyed by Zacks expected $4.74 billion.
Arch Capital shares have declined almost 7% since the beginning of the year. In the final minutes of trading on Monday, shares hit $86.07, a drop of 18% in the last 12 months.
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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 ACGL at https://www.zacks.com/ap/ACGL