Arch Capital: Q2 Earnings Snapshot

PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Arch Capital Group Ltd. (ACGL) on Tuesday reported second-quarter net income of $1.27 billion.

On a per-share basis, the Pembroke, Bermuda-based company said it had profit of $3.30. Earnings, adjusted for non-recurring gains, were $2.57 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.

The property and casualty insurer posted revenue of $4.23 billion in the period. Its adjusted revenue was $3.94 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.91 billion.

Arch Capital shares have increased 32% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $98.20, an increase of 26% 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