logo
Share SHARE
FONT-SIZE Plus   Neg

Altisource Q1 Profit Grows - Quick Facts

Altisource (ASPS) posted an increase in its first-quarter net income attributable to the company to $25.23 million or $1.02 per share from $14.82 million or $0.57 per share a year earlier. On average, 2 analysts polled by Thomson Reuters expected earnings per share of $0.81 for the quarter. Analysts' estimates typically exclude one-time items.

Service revenue was $108.5 million for the three months, a 51% increase compared with $71.73 million last year. The year-over-year growth in net income and service revenue is mainly from the increase in Ocwen's residential loan servicing portfolio, impacting the Mortgage Services and Technology Services segments, coupled with the ongoing expansion of mortgage and real estate portfolio management services within the Mortgage Services segment.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
Follow RTT