Genworth Shares Rally On Earnings Beat

By Wallace Witkowski Markets MarketWatch Pulse

Genworth Financial Inc. shares surged in the extended session Tuesday after the mortgage insurer topped Wall Street estimates for the quarter. Genworth shares rallied 8% to $3.66 after hours. The company reported second-quarter net income of $202 million, or 40 cents a share, compared with $172 million, or 39 cents a share, in the year-ago period. Adjusted operating earnings were 30 cents a share. Revenue slipped to $2.22 billion from $2.24 billion in the year-ago period. Analysts surveyed by FactSet had estimated 24 cents a share on revenue of $2.14 billion.

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