Assured Guaranty Q3 Profit Tops Estimate

(RTTNews) - Assured Guaranty Ltd. (AGO) reported third quarter net income of $384 million, or $2.09 per share, compared to $142 million, or $0.73 per share for the year-ago quarter.

The company reported operating income for third quarter of $117 million or $0.64 per share, compared to $166 million or $0.85 per in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.63 per share for the third quarter. Analysts' estimates typically exclude special items.

Net earned premium for the quarter fell to $159 million from $222 million a year ago.

Total revenue for the quarter rose to $670 million from $338 million last year.

On November 11, the company's remaining share repurchase authorization was replaced by a new $400 million authorization.