Fidelity National Financial Inc Q4 adjusted earnings Beat Estimates
WASHINGTON (dpa-AFX) - Fidelity National Financial Inc (FNF) reported a profit for its fourth quarter that increased from the same period last year.
The company s bottom line totaled $803 million, or $2.74 per share. This compares with $340 million, or $1.22 per share, in last year s fourth quarter.
Excluding items, Fidelity National Financial Inc reported adjusted earnings of $558 million or $2.01 per share for the period.
Analysts had expected the company to earn $1.32 per share, according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.
The company s revenue for the quarter rose 58.3% to $3.8 billion from $2.4 billion last year.
Company Overview
Fidelity National Financial Inc has two business groups: FNF Core Operations and FNF Ventures. Core Operations provides title insurance, escrow, and other title-related services. It also provides technology and transaction services to the real estate and mortgage industries. FNF Ventures invests in other companies. It has a majority interest in ABRH, a restaurant company that operates restaurants such as Bakers Square and Village Inn. Title insurance premiums comprise close to half of Fidelity s total revenue, and the remaining Core Operations business comprises more than one-third of total company revenue. Almost all remaining revenue is from restaurant sales via FNF Ventures investments. Substantially all of the company s revenue is generated in the United States.