Genworth Financial (GNW) Misses Q3 EPS by 6c, Revenues Beat

Genworth Financial (NYSE: GNW) reported Q3 EPS of $0.24, $0.06 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $2.02 billion versus the consensus estimate of $2.19 billion.

"Genworth has significant expertise in implementing security protocols that satisfy data security concerns as a result of the successful implementation of our Enhanced Data Security Program," said Tom McInerney, president and CEO of Genworth Financial. "We are confident in our ability to satisfy the Canadian government's requirements in order to move forward with the sale of Genworth Canada, which is the best path forward to ultimately close the transaction with Oceanwide. The Oceanwide Transaction continues to represent the best value for Genworth\'s shareholders."

LU Zhiqiang, chairman of Oceanwide, added: "Oceanwide remains committed to the transaction with Genworth, as well as the $1.5 billion contribution to Genworth over time following the consummation of the transaction, subject to the receipt of the required regulatory approvals and clearances. We look forward to closing the transaction as soon as possible."

For earnings history and earnings-related data on Genworth Financial (GNW) click here.

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