Equifax quarterly profit up 20 percent

Equifax said its net income increased 20 percent in the second quarter compared to a year ago, to $111 million, or 92 cents a share.

The Atlanta-based credit-reporting firm said its revenues increased 10 percent in the quarter ended June 30 compared to a year ago, to $678 million.

Equifax credited a number of factors for the profit and sales growth, including higher demand related to the Affordable Care Act for job verification services, and higher overseas product sales.

The financial results prompted Equifax to project revenue in the current quarter will increase as much as 12 percent compared to a year ago, to between $655 million and $670 million, and profit per share to increase up to 13 percent, to between $1.08 to $1.11 per share.

“We anticipate a strong performance in 2015 and feel good about the outlook for 2016,” said Equifax CEO Richard Smith.

About the Author

Russell Grantham

Tallest tower to join Atlanta’s skyline in 30 years reaches highest point

The project’s development team is commemorating the 60-story tower’s construction milestone and celebrate its journey to becoming Atlanta’s fifth-tallest building.

1h ago

Why your car’s safety tech needs maintenance, too

A warning beep is helpful, but only if the sensor providing the information is accurate. That is not always the case. Here's how to keep those systems running at their peak.

How the FAA’s flight cuts are affecting Hartsfield-Jackson

The Federal Aviation Administration has ordered airlines to cut traffic across 40 of the nation’s busiest airports starting Friday to maintain safety.

The Latest