EMERYVILLE, Calif. (AP) — NMI Holdings Inc. (NMIH) on Tuesday reported first-quarter net income of $52.9 million.
On a per-share basis, the Emeryville, California-based company said it had profit of 61 cents. Earnings, adjusted for non-recurring costs, came to 62 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The mortgage insurance company posted revenue of $115.2 million in the period.
NMI Holdings shares have risen 17% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.55, more than doubling in the last 12 months.