XL Group plc Q1 Profit Declines 47%

(RTTNews) - XL Group plc (XL) announced earnings for first quarter that dropped from last year.

The company said its bottom line dropped to $103.39 million, or $0.35 per share. This was lower than $194.38 million, or $0.75 per share, in last year's first quarter.

Analysts had expected the company to earn $0.50 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 61.9% to $2.51 billion. This was up from $1.55 billion last year.

XL Group plc earnings at a glance:

-Earnings (Q1): $103.39 Mln. vs. $194.38 Mln. last year. -Earnings Decline (Y-o-Y): -46.8% -EPS (Q1): $0.35 vs. $0.75 last year. -EPS Decline (Y-o-Y): -53.3% -Analysts Estimate: $0.50 -Revenue (Q1): $2.51 Bln vs. $1.55 Bln last year. -Revenue Change (Y-o-Y): 61.9%