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
As Sony Corp. prepares to launch the new PlayStation 4 Pro gaming console on November 10, several new games that are compatible with the console have also been confirmed for launch. Game developers are readying to provide PlayStation 4 Pro support for many games on PS4. Shares of Advaxis Inc. dropped more than 13 percent in pre-market activity before paring losses to just more than 5 percent after the company said that it was not able to complete the second stage of the Phase 2 GOG-0265 trial as designed due to a clinical hold that affected its clinical development programs last year. Dicks Sporting Goods Inc., one of the major sporting good retailers in the U.S., is planning to acquire Golfsmith International Holdings Inc., a specialty retailer with stores in U.S. and Canada, through a bankruptcy auction, Reuters reported. The bid would be worth $70 million and needs approval by a U.S. bankruptcy court.
comments powered by Disqus
Follow RTT