XL Group plc Reports 57% Retreat In Q2 Profit

(RTTNews) - XL Group plc (XL) reported earnings for second quarter that lost ground compared to the same period last year.

The company said its bottom line fell to $106.45 million, or $0.37 per share. This was lower than $245.80 million, or $0.84 per share, in last year's second quarter.

Analysts had expected the company to earn $0.14 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.1% to $2.65 billion. This was down from $2.68 billion last year.

XL Group plc earnings at a glance:

-Earnings (Q2): $106.45 Mln. vs. $245.80 Mln. last year. -Earnings Decline (Y-o-Y): -56.7% -EPS (Q2): $0.37 vs. $0.84 last year. -EPS Decline (Y-o-Y): -56.0% -Analysts Estimate: $0.14 -Revenue (Q2): $2.65 Bln vs. $2.68 Bln last year. -Revenue Change (Y-o-Y): -1.1%