Arch Capital Group Ltd Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Arch Capital Group Ltd (ACGL) reported a profit for second quarter that Decreased from last year but beat the Street estimates.

The company's bottom line came in at $1.2 billion, or $3.23 per share. This compares with $1.3 billion, or $3.30 per share, last year.

Excluding items, Arch Capital Group Ltd reported adjusted earnings of $979 million or $2.58 per share for the period.

Analysts on average had expected the company to earn $2.30 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 15.0% to $4.348 billion from $3.781 billion last year.

Arch Capital Group Ltd earnings at a glance (GAAP) :

-Earnings: $1.2 Bln. vs. $1.3 Bln. last year. -EPS: $3.23 vs. $3.30 last year. -Revenue: $4.348 Bln vs. $3.781 Bln last year.