CoreLogic Q2 Profit Beats Estimate - Quick Facts

(RTTNews) - CoreLogic, Inc. (CLGX) Wednesday reported a rise in profit for the second quarter, helped mainly by a double-digit revenue growth. Both adjusted earnings and revenues came in above analysts' expectations.

Net income attributable to CoreLogic increased to $44.9 million or $0.45 per share from $41.2 million or $0.40 per share in the prior year quarter.

Net income from continuing operations totaled $34.20 million or $0.46 per share, up from $28.96 million or $0.39 per share in the comparable quarter last year.

Adjusted earnings for the quarter was $0.56 per share, up from $0.46 per share last year. On average, six analysts polled by Thomson Reuters expected the company to earn $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues grew 9.7 percent to $426.97 million from $389.36 million last year, while three analysts expected revenues of $412.26 million.

Looking ahead to fiscal 2013, the company raised its adjusted earnings guidance to a range of $1.70 per share to $1.80 per share from its previous range of $1.65 to $1.75 per share. Analysts currently expect earnings of $1.77 per share in fiscal 2013.

The company expects to generate revenues between $1.575 and $1.6 billion. Analysts now expect revenue of $1.60 billion.