PHILADELPHIA — In a story Wednesday about Radian Group Inc.'s quarterly results — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company posted a loss. Radian Group earned a profit and beat Wall Street estimates.
A corrected version of the story is below:
Radian: 3Q Earnings Snapshot
PHILADELPHIA (AP) — Radian Group Inc. (RDN) on Wednesday reported a third-quarter profit of $135.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Philadelphia-based company said it had a profit of 70 cents. Income, adjusted for non-recurring costs, was 59 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The mortgage insurer posted revenue of $375.2 million in the period. Its adjusted revenue was $323.6 million.
Radian shares have fallen 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.75, a decrease of 25% in the last 12 months.
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