Tree.com: Q1 Earnings Snapshot
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CHARLOTTE, N.C. (AP) _ Tree.com Inc. (TREE) on Thursday reported first-quarter earnings of $19 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $1.35. Earnings, adjusted for non-recurring gains, were 18 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The mortgage lending service provider posted revenue of $272.8 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $265.8 million.
Tree.com shares have decreased 10% since the beginning of the year. The stock has risen 10% in the last 12 months.