Radian Group Inc Q2 Profit Increases, beats estimates

(RTTNews) - Radian Group Inc (RDN) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $201.19 million, or $1.15 per share. This compares with $155.21 million, or $0.80 per share, in last year's second quarter.

Excluding items, Radian Group Inc reported adjusted earnings of $302.0 million or $1.36 per share for the period.

Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 14.9% to $286.83 million from $336.99 million last year.

Radian Group Inc earnings at a glance (GAAP) :

-Earnings (Q2): $201.19 Mln. vs. $155.21 Mln. last year. -EPS (Q2): $1.15 vs. $0.80 last year. -Analyst Estimate: $0.76 -Revenue (Q2): $286.83 Mln vs. $336.99 Mln last year.