U.S. Markets open in 2 hrs 16 mins

Axis Capital: 4Q Earnings Snapshot

PEMBROKE, Bermuda (AP) _ Axis Capital Holdings Ltd. (AXS) on Wednesday reported a fourth-quarter loss of $753,000, after reporting a profit in the same period a year earlier.

On a per-share basis, the Pembroke, Bermuda-based company said it had a loss of 12 cents. Earnings, adjusted for non-recurring costs, were 5 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The insurance company posted revenue of $1.34 billion in the period. Its adjusted revenue was $1.29 billion.

For the year, the company reported profit of $323.5 million, or $3.34 per share. Revenue was reported as $5.08 billion.

Axis Capital shares have risen 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $62.40, a rise of 14% in the last 12 months.


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