LendingTree, Inc. (TREE) Tuesday reported a narrower loss for the third quarter while revenues were down 35 percent from the previous year. On an adjusted basis, the company reported a profit, compared to loss last year, that came in above estimates.
The quarterly net loss was $148.5 million, narrower than $158.7 million in the prior year. On a per-share basis, loss was $11.43, compared to loss of $12.44 last year.
On an adjusted basis, earnings were $0.61 per share. On average, 9 analysts polled by Thomson Reuters expected the company to earn $0.35 per share.
Total revenues for the quarter declined to $155.2 million from $237.8 million in the prior year. Wall Street expected $161.03 million.
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