Equifax Inc. reported third-quarter profit jumped 11% as revenue increased 7%, with earnings excluding items slightly above a July projection.
The company projects fourth-quarter earnings excluding items of 99 cents to $1.03 a share on revenue of $615 million to $620 million. Third-quarter profit rose to $92.7 million, or 75 cents a share, from $83.5 million, or 67 cents a share, a year earlier. Excluding acquisition-related expenses and other items, per-share earnings from continuing operations rose to $1.01 from 90 cents. Revenue rose to $613.4 million from $572 million.
Equifax traditionally makes its living by compiling credit information on people, then selling it to lenders for approval decisions on mortgages, credit cards, auto loans and other borrowings. After the recession, the company began expanding into areas such as card marketing, fraud detection and credit risk consulting through acquisitions and partnerships.
The company ramped up its debt collection capabilities, buying U.K. debt management firm TDX Group in January for approximately $327 million. TDX is the United Kingdom's largest debt placement services and debt management platform company. That acquisition - specifically adding TDX's software, technology and various platforms - allowed Equifax to build within the collections space but also expand into other markets, company officials said.
Equifax in April announced a partnership with Jumio, which specializes in mobile payment and ID scanning.
Equifax officials said "the momentum we have developed over the course of this year positions us well for another strong performance in 2015."
The Consumer Financial Protection Bureau has been looking into the credit reporting sector. Both Equifax and Experian have disclosed this year that they received civil investigative demands from the CFPB.