Equifax said it notched record profit and revenue in 2014 from overseas growth and recovering demand from mortgage lenders who needed the Atlanta company’s credit reports and employment verification for potential borrowers.
Equifax, which is one of the nation’s largest credit reporting agencies, said Wednesday that net income for the year was $367 million, up 10 percent from the previous year. The company’s 2014 revenue increased 6 percent from 2013, to $2.4 billion.
Much of that improvement happened in the second half of the year as mortgage lending recovered in the U.S., said Jeff Dodge, Equifax senior vice president of investor relations. Equifax also saw a 25 percent jump in fourth-quarter revenue, which accounts for about a fourth of the firm’s revenues, due to strong results in the United Kingdom, Spain and Latin America, he said.
“We enter 2015 with a lot of momentum,” said Dodge.
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