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Validus misses 1Q profit forecasts

PEMBROKE, Bermuda (AP) _ Validus Holdings Ltd. (VR) on Wednesday reported first-quarter net income of $96.8 million.

The Pembroke, Bermuda-based company said it had net income of $1.17 per share. Earnings, adjusted for investment gains, were 95 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The provider of reinsurance and insurance services posted revenue of $635.9 million in the period.

Validus shares have risen roughly 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.98, a climb of 26 percent 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 VR at https://www.zacks.com/ap/VR


Keywords: Validus Holdings, Earnings Report