Axis Capital: Q2 Earnings Snapshot

Associated Press Finance
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PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Axis Capital Holdings Ltd. (AXS) on Tuesday reported second-quarter profit of $212 million.

On a per-share basis, the Pembroke, Bermuda-based company said it had profit of $2.40. Earnings, adjusted for non-recurring costs, came to $2.93 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.

The insurance company posted revenue of $1.45 billion in the period. Its adjusted revenue was $1.5 billion.

Axis Capital shares have increased 34% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $74.47, a rise of 35% 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 AXS at https://www.zacks.com/ap/AXS