W.R. Berkley: 2Q Earnings Snapshot
GREENWICH, Conn. (AP) _ W.R. Berkley Corp. (WRB) on Tuesday reported second-quarter earnings of $71.3 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had profit of 38 cents. Earnings, adjusted for investment gains, came to 6 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The insurance company posted revenue of $1.94 billion in the period. Its adjusted revenue was $1.78 billion.
W.R. Berkley shares have decreased slightly more than 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $64.02, a decrease of almost 4% in the last 12 months.