Genworth Financial Q3 Net More Than Triples
Genworth Financial's shares are slightly lower in post-market trading following the release of its Q3 results. For the quarter, the insurer's total revenues amounted to $2.3 billion, down 6% from the $2.5 billion recorded in the same period the previous year. Attributable net income, on the other hand, jumped to $108 million ($0.22 per diluted share), more than three times Q3 2012's $35 million ($0.07).
Analysts, however, had been expecting EPS of $0.27 on revenue of $2.4 billion.
In terms of individual performance, the company's life insurance division saw a robust climb in net operating income, growing that line item to $111 million. That's 29% higher on a year-over-year basis. Global mortgage insurance was another strong performer, advancing its net operating income by 53% over that span of time to $87 million.
Following the announcement of the results, Genworth Financial's stock dipped by 1.8%, or $0.26, to $14.57 in after-hours trading.
The article Genworth Financial Q3 Net More Than Triples originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Genworth Financial. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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