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.

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Russell Grantham

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