Stock Track | Radian Plunges 5.59% in After-Hours as Q2 Earnings Miss Estimates
Stock Track
Aug 06
Shares of Radian Group (RDN) plunged 5.59% in after-hours trading on Wednesday following the release of its second-quarter financial results, which fell short of Wall Street expectations.
The company reported adjusted earnings per share of $0.85, significantly missing the consensus estimate of $1.33. Sales came in at $503.712 million, also below the projected $537.199 million, underscoring weaker-than-expected performance for the quarter.
Despite the miss, Radian posted a net income of $116 million, adjusted operating income of $196 million, and a return on equity of 9.8%. However, the top- and bottom-line disappointments dominated investor sentiment, driving the sharp post-market decline.
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