PHILADELPHIA (AP) _ Radian Group Inc. (RDN) on Wednesday reported first-quarter net income of $140.5 million.
On a per-share basis, the Philadelphia-based company said it had net income of 70 cents. Earnings, adjusted for non-recurring costs, were 80 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The mortgage insurer posted revenue of $329.1 million in the period. Its adjusted revenue was $351.1 million.
Radian shares have decreased 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.12, a decrease of 41% in the last 12 months.