NMI Holdings: 1Q Earnings Snapshot

EMERYVILLE, Calif. (AP) _ NMI Holdings Inc. (NMIH) on Wednesday reported first-quarter profit of $32.9 million.

The Emeryville, California-based company said it had net income of 48 cents per share. Earnings, adjusted for non-recurring costs, were 56 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The mortgage insurance company posted revenue of $81.1 million in the period.

NMI Holdings shares have risen 56% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.84, a climb of 91% 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 NMIH at https://www.zacks.com/ap/NMIH