PHILADELPHIA (AP) _ Radian Group Inc. (RDN) on Wednesday reported second-quarter earnings of $166.7 million.
On a per-share basis, the Philadelphia-based company said it had net income of 78 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 $395 million in the period. Its adjusted revenue was $343.1 million.
Radian shares have increased 39% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.79, a rise of 19% in the last 12 months.