Equifax profit rises 29 percent on mortgage strength
The credit bureau reported a net income of $171.5 million for the first quarter. While revenue grew 14 percent, the firm kept its full-year revenue outlook.
EQUIFAX INC reported a significant surge in first-quarter profit, driven by a recovery in loan demand within the United States mortgage sector. Despite the strong start to the year, the credit bureau maintained its full-year revenue outlook, citing persistent macroeconomic uncertainty and geopolitical tensions.
Revenue for the quarter ended March 31 jumped 14% to $1.65 billion, while net income attributable to the company rose 29% to $171.5 million. On a per-share basis, quarterly profit reached $1.42, up from $1.06 in the prior year. The performance was largely underpinned by a 38% increase in U.S. mortgage revenue, which saw particularly strong growth in the first two months of the year before interest rates began to climb.
