Earnings Fall At Equifax
ATLANTA – Credit bureau Equifax reported a 52% drop in second quarter net income to $34.5 million, as the company set aside a larger provision for income taxes and the elimination of one of its operating assets.
The company reported a 6% rise in revenues to $487.1 million.
“Overall performance in the second quarter was solidly in line with our expectations. Continued weakness in the U.S. mortgage sector that weighed on some of our core operating segments was offset by double digit revenue growth in international, North America Personal Solutions and North America Commercial,” said Richard Smith, the company’s CEO.
For the first six months of the fiscal year Equifax reported a 6% increase in revenues to $959.7 million, and a 28% decline in net income to $91.8 million.