Equifax (EFX) Q3 Earnings & Revenues Top; Lifts '16 View
Zacks Investment Research | Oct 26, 2016 09:29PM ET
Keeping its earnings streak alive for the seventh time in a row, Equifax Inc. (NYSE:EFX) reported better-than-expected results in the third quarter of 2016. The company’s adjusted earnings (excluding amortization expenses, Veda Group acquisition-related charges and other one-time items) per share from continuing operations of $1.44 surpassed the Zacks Consensus Estimate of $1.36 and surged 26% year over year.
On a GAAP basis, the company reported earnings of $1.09 per share, up from the year-ago quarter tally of 98 cents. The strong year-over-year bottom-line growth was mainly aided by solid top-line performance and stringent cost management, which was partially offset by a slight increase in the number of total outstanding shares.
The overwhelming third-quarter results boosted investors’ confidence as shares gained 1.5% in after hour trade.
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