UPDATE 1-Genworth net operating profit beats Street view - News

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.
Smartphone Guide
Here's a need-to-know guide to nine devices, based on features, price, network and platform.
Wines for the Holidays
Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES

A Healthier & Wealthier You
Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?
The Many Myths of Coca-Cola
Can you tell which statements are true, and which ones are just rumors?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

UPDATE 1-Genworth net operating profit beats Street view

By: AFX | 29 Oct 2009 | 05:59 PM ET

Text Size

NEW YORK, Oct 29 (Reuters) - U.S. insurer Genworth Financial Inc reported a net operating profit on Thursday that beat Wall Street expectations, sending its shares higher after hours. Net operating income, excluding investment gains and losses, was $81 million, or 18 cents a share, compared with $220 million, or 51 cents per share, last year. On that basis, analysts, on average, had expected the company to report a loss of 2 cents per share, according to Thomson Reuters I/B/E/S. The life and mortgage insurer also reported net income available to common shareholders of $19 million, or 4 cents a share, due to sharply lower investment losses compared with a loss of $258 million, or 60 cents a share, a year ago, In the quarter, net investment losses fell to $62 million from losses of $478 million in the same quarter a year ago. Genworth shares, which closed at $10.18 in the regular session, were $11.41 after hours. (Reporting by Lilla Zuill) Keywords: GENWORTH/ (lilla.zuill@thomsonreuters.com; +1 646 223 6281) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Tools: