(Adds Outlook, stock movement)
Looking ahead, LendingTree, Inc. (TREE) has initiated second-quarter revenue outlook above analysts' estimates, whereas revised up annual revenue guidance above Street view.
For the second-quarter, the company expects revenue of $175 million to $190 million, above the analysts' expectation of $168.32 million. For the full year, LendingTree now projects revenue of $690 million to $720 million against its previous outlook of $650 million to $690 million.
Analysts, on average, forecast the firm to generate revenue of $670.25 million, for the year.
TREE was trading up by 7.36 percent at $40.10 in the pre-market trade on the Nasdaq.
LendingTree, Inc. (TREE) revealed earnings for first quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $1.0 million, or $0.08 per share. This compares with $13.5 million, or $1.04 per share, in last year's first quarter.
Excluding items, LendingTree, Inc. reported adjusted earnings of $9.2 million or $0.70 per share for the period.
Analysts on average had expected the company to earn $0.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 16.3% to $167.8 million from $200.5 million last year.
LendingTree, Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $1.0 Mln. vs. $13.5 Mln. last year.
-EPS (Q1): $0.08 vs. $1.04 last year.
-Revenue (Q1): $167.8 Mln vs. $200.5 Mln last year.
-Guidance:
Next quarter revenue guidance: $175 - $190 Mln
Full year revenue guidance: $690 - $720 Mln
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