PRA Group Inc. Q1 Profit Falls, but beats estimates

(RTTNews) - PRA Group Inc. (PRAA) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $40.0 million, or $0.97 per share. This compares with $58.4 million, or $1.27 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.9% to $240.6 million from $289.5 million last year.

PRA Group Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $40.0 Mln. vs. $58.4 Mln. last year. -EPS (Q1): $0.97 vs. $1.27 last year. -Analyst Estimates: $0.78 -Revenue (Q1): $240.6 Mln vs. $289.5 Mln last year.