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MGIC: 2Q Earnings Snapshot

Last Updated Aug 5, 2020 at 12:30 am EDT

MILWAUKEE (AP) _ MGIC Investment Corp. (MTG) on Tuesday reported second-quarter earnings of $14 million.

The Milwaukee-based company said it had profit of 4 cents per share. Earnings, adjusted for investment gains, came to 3 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The mortgage insurance company posted revenue of $294 million in the period. Its adjusted revenue was $287.3 million.

MGIC shares have declined 42% since the beginning of the year. The stock has decreased 33% 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 MTG at https://www.zacks.com/ap/MTG

The Associated Press