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MGIC Investment (MTG) reported better-than-expected earnings for the third quarter, beating analysts' estimates by 7 cents a share.

The Milwaukee-based mortgage insurance provider beat the 12-analyst

First Call/Thomson Financial

consensus estimate of $1.29 a share, posting earnings of $1.36 a share for the quarter, up from $1.11 a share in the year-ago third quarter.

The company recorded revenue of $282.7 million for the quarter, up from $250.4 million a year ago. MGIC attributed the revenue increase to a 15% increase in net premiums earned and a 17% increase in investment income.

Shares of MGIC were recently trading up 50 cents, or 0.8%, to $60.