PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Axis Capital Holdings Ltd. (AXS) on Tuesday reported second-quarter net income of $258.1 million.
On a per-share basis, the Pembroke, Bermuda-based company said it had profit of $3.38. Earnings, adjusted for non-recurring gains, were $2.84 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.23 per share.
The insurance company posted revenue of $1.75 billion in the period. Its adjusted revenue was $1.71 billion.
Axis Capital shares have climbed 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $119.27, a climb of 24% in the last 12 months.
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