Equifax reports higher profits and revenue for first quarter

Equifax reported $88.3 million in profits in the first quarter, up 5 percent from the year-ago quarter’s results.

The Atlanta-based credit reporting firm said its revenues rose 12 percent compared to the year-earlier quarter, to $652 million, which was at the upper end of its earlier guidance to investors.

“All four business units exceeded our expectations with their first quarter performance,” Richard Smith, Equifax’s chairman and chief executive officer, said in a statement. “While the environments and economies in which we operate continue to present challenges, we are very focused on our strategic objectives and we have a very strong operating discipline. At this point, our optimism for the year has increased from what it was when we first entered it.”

Equifax said its first-quarter earnings per share after adjustments for certain expenses also rose above the company’s earlier guidance. Excluding certain expenses related to acquisitions and “realignment of internal resources,” first quarter earnings per share increased 20 percent compared to a year earlier, to $1.07.

Without such adjustments, Equifax’ earnings per share were 73 cents per share in the first quarter, 9 percent higher than a year ago.

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