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
French lender Societe Generale SA reported Thursday higher net profit in its fourth quarter, while operating income declined sharply amid higher litigation provision and lower net banking income. However, fiscal 2015 was marked by good operating performances in all the businesses. Citing the annual results, the company lifted its dividend. Fast-food giant Burger King will be adding hot dogs to its menu in the US from February 23. According to Burger King's North American President Alex Macedo, this addition is the most significant menu addition for the burger chain since it added a chicken sandwich in the 1970s. Burger King will... Electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a fourth-quarter loss that widened from last year, hurt largely by higher operating costs which offset an increase in revenues. However, shares of the company gained 11 percent after the company detailed a strong delivery target for 2016. Tesla,...
comments powered by Disqus
Follow RTT